Artisan: it's mostly about control. Obviously the major publishers love making money, but they also like having market power.
On console, publishers have far more market power. First, the big four publishers (Take 2, Ubisoft, Activision, EA) comprise a far greater portion of overall market sales. Further, they worry less about piracy, don't have to deal with mods (the recent news about DOA shows that many large publishers don't like to deal with legal complications from mods), don't have to worry about people copying their game, and so forth.
Console is far more streamlined for the major publishers. The control factor is a major reason why companies like Ubisoft continue to waver on PC support; you can see them struggle to put their own DRM on the games, and try to lock you out if you don't have an online connection, and so forth. They want that control.