Well, see, HDTV adoption rates can only go up. As HDTV becomes the standard, consoles must be able to output at at least 720p and the Wii can only do 480p. The real HD consoles will then show their worth.
Not only that, but the multimedia functions will be priceless. Think about it. PS3 brings in a built in HD movie player. Microsoft released an add-on for those that use HD-DVD. Both can display movies, photos, and surf the internet. These are invaluable functions that'll take centerstage in the living room. The PS3 has Home, which as the potential to become another Second Life/MySpace/Facebook, and the 360 has Live, which is an outstanding and established online service.
The graphics on these HD consoles can only get better, and with the support of proper video and audio outputs, the immersion offered by these consoles will be greater than ever before. Ever played Shadow of the Colossus? Imagine that on the PS3 with surround sound at 1080p. Imagine the awe of the 3rd Colossus towering over you, hearing the echoing boom of his sword crash against the earth, the gasp of Wander as he stumbles to the ground from the impact.
Online connectivity can only enhance the experience. Games can be patched and upgraded, and re playability extended through downloadable content. Even in dry spells, you can buy original online games at little cost, or play your favorite multiplayer games with leaderboards and a comprehensive friends list.
Think consumers won't miss these things? Think again. The novelty of the Wiimote is bound to wear off. No doubt, it is fun for now. But it has failed to show that it can enhance gameplay outside of a few choice games, and all it does is replace a button tap with a wrist motion. That's change for change's sake, and is holding back gaming as a whole. Next gen graphics are just not capable on the Wii, and the experiences will be severely compromised on the Wii.
All Sony needs to take off is the games, and those are coming this fall. Along with the killer line up the 360 is going to get, going with the HD generation is going to be a no brainer. Meanwhile, Wii owners will find themselves short 250$ and noticing the great games on the competing hardware.
This is the first 6 months, guys. We have another 4 and a half years to go. Don't claim victory yet.