StingingVelvet: these huge lumbering corporations might actually be stupid enough to release a 2005 console in 2012
Nintendo seems to have been.
MS is weird, they're actually the innovator in a lot of this stuff, Halo basically launched western consoles, not that they came up with Halo, but they knew what they were seeing when they saw it and acquired it, exclusively, damn the cost.
Then they do stupid shit like keep the 100 friend limit, which is some insane industry default by now, even though there's no longer any good reason for it.
Still, MS seems to get what gamers want in a lot of ways, even when gamers say they want the opposite, MS spots that and provides the "right" thing instead. Though the right thing sometimes benefits MS exclusively and is bad for gamers, usually it's good. People can bag on Live and Gold subs all they want, the fact remains it's the winning online platform of last gen by a mile and I bet it beats the shit out of Battle.net and Steamworks in sheer users too.
They do need to clean up their userbase. They do need to demand apps from Netflix and the like that aren't dramatically worse than shitty SmartTV apps (seriously, wtf, the Netflix app now is demonstrably worse than the one they launched with!).
They could actually "win" next gen simply by being the easiest console on which to watch free porn (which they currently are).
Sony tends to copy really well, though sometimes they miss the reason the thing they're copying did well in the first place and fuck it up. I don't look at Sony as big innovators, but if MS releases a strong next gen, I expect Sony will too, provided they can green light the development, given their finances.
Whatever happens I predict pretty good consoles next generation, simply because whatever they say to gamers, EA, MS, and the rest do serious market research. For example, they know used games actually prop them up and they don't actually want to strangle that market, they'd rather own it themselves, or move part of the pie to their own balance sheets.
Roman5: People actually think there will not be a "PS4"?
Seriously?
Snickersnack: The video game business is brutal and Sony is hurting bad. Do they have the cash to launch a competitive nextnextgen console and subsidize early units before they can build them efficiently? Even titans have been known to fall.
Edit: ninjaed by SimonG
I read that early on the PS3 had eaten their entire mountain of cash from the PS2 (the most successful console in history by a wide margin). I don't think Sony has those kinds of reserves anymore. They could still do it, but they'd be betting the company or going into a strategic partnership, such as they did with Sony-Erricson.