A friend of mine worked at Toys R Us at the beginnig of the 00s. When he told a costumer that the GC was more powerful than the PS2 he got into trouble. There where so many PS2 fanboys around at that time... many peoole till seriously believe that the GC was inferior to the PS2. Its the uneducated worker class and teenies.

Got tired back in the day explaining to my friends that the GC was more powerful. They simply could not believe me and brought up different games from the PS2 system as examples of the graphical capabilities and pointed to the "awful" graphics of Zelda Wind Waker of all games on the GameCube. I was very much a Nintendo fanboy back then and got annoyed when Resident Evil 4 released on PS2 as well. But being able to compare the graphics from the GameCube Version with the PS2 version finally shut one of them up. 

PROPAGANDA.
That's the power of it.

>Propaganda is a form of transmission of information that aims to influence the attitude of a community regarding a cause or position. This is usually repeated and disseminated in a wide variety of media in order to obtain the desired result in the attitude of an audience.

And Sony used it very well, and a LOT with teens and young adults (the easier ones to be affected) during the 90s and early 2000s. It worked very well, during maaaany years.

(It worked less well with the "600$" for the new PS3 XD... Although, it was a great machine. Also, the 2006 E3 PS3 presentation conference... was hilariously bad. So bad, it attacked its weak point for massive damage. RIIIIIIIIDGE RACEEEEEER).

The original of that video got GAZILLIONS of views, it was a must.

The best "argument" i heard was: The PS2 is bigger, so it has more power"!🤣😂It was the same with the Game Boy: Nobody even  dared to compare the Game Gear with the Game Boy. Everyone could see the GG was far superior! But nearly nobody dared to speak against the GB. With the IPhone its not as extreme, but sure there are lots of Apple fanboys who would buy anything from apple no matter how worse and expensive it is. Thats the way apple makes money.

Makes sense. I don't think it was a great reveal but doesn't matter in the bigger scheme of things.

It was only a teaser. Not much shorter than the Switch teaser from October 2017.

An encouraging take from a game developer:

This is just a pump and dump classic situation, always happens when some good news is affecting one company.
I previously listened the shares went high just after that presentation because it was precisely a "conservative move respect Switch". So some people just dumped searching for easy money, and the effect is that: a negative rebound. Always happens in these situations: A 5% change is basically NOTHING, and capitalization will recover its normal values and stability until, must probably, April 2nd, where it will happen something like this again.

Yeah misinformation about console power was and still is rife. The GC was already more powerful than the PS2 and the Wii is basically a Gamecube Pro, yet people in the 7th gen still insisted that the Wii was on par with the PS2.

Same thing this gen, with many insisting the Switch was on par with PS3/360 despite mountains of software demonstrating it outperformed them.

Usually it's just people believing what they want to believe and downplaying the "enemy" brand to prop up the one they prefer.

I never had a problem with my friends doubting the power of Gamecube; Rogue Leader was proof positive on day one.