The PS2 doesn't have many new quality games but it's an ideal console for the budget gamer. Superb library built up over the years. Hardware is only $100. And the hardware and software sales are surprisingly still pretty decent. More than good enough to justify keeping the hardware and software on the shelves.
I'm one of those gamers that got a PS2 pretty late (two years ago. I wasn't really into gaming much last gen so I never bothered to get a new console then. But I figured that since the PS2 was dirt cheap and had a great library, why not) but sadly I rarely got any use out of it. I got some games for it, played them a little bit and then put them away. For whatever reason, I just lost interest. The library is superb but I just wasn't in a stage at the time where I cared much about gaming beyond casual play on the PC here and there. And once I got a DS and then later a 360, I pretty much stopped playing on the PS2. The hardware was sure cheap but it went to waste. And I don't really feel like going back to it now.