It is a toy, but i don't like to actually describe it as one. The majority of people immediately link the word with the "an object for a child to play with" definition.

Yes it is, but some feel insecure to determine a videogame console as a toy. When a product is designed to play games this product is a toy

Even if true who cares as long as you have fun? It´s more about the people wanting to be seen as mature and thus they refect things that seem childish. Prime example being those CoD kids who want to be perceived as older because it´s more "cool".

But enough offtopic rambling, yes it´s a toy.

Yes. So are Lamborghini's and Speed boats. Toys.

It's a yes and no scenario depending on how you want to look at. I feel its somewhat in its own category that goes with PC and movies,  which i like to refer to them as 'viewing entertainment'. 

Someone posted saying that its in toyrus, but there's also bikes, basketballs, etc...which are sports. Sport also use objects to 'play' does that make sports a toy? And then there's a video game league just like nhl and nba, so does that make video games a sport? (a topic discussed too often with mix results).

So its really hard to categorize what video games actually are as it can fit into in many categories. To me, its not really a toy but a form of entertainment. 'viewing entertainment' :P

Yeah except I rarely use a game console to gain information like I do with a TV or PC. A shiny new graphics card is a toy though.

Yes. cars, jet skis and computers are toys too, because their main function is to play games

I believe in terms of business sectors, video games consoles and video game software do fall under Toys and Games.

Have fun: http://www.euromonitor.com/toys-and-games

Yes, all them from the very first Pong-machine to the xbone. There is no shame in that.

I don't care, hence i'm happy to acknowledge it's a toy :p It just don't think the word (within the context i mentioned) properly describes the object. For the sake of not confusing someone who doesn't know better, i avoid it.