So what. Let these boxes be big and hungry so I say!
In order for there to even be a next-generation, these companies need to profit. Reliability has become absolute shit because console manufacturers targeted 200 watts this generation. RROD, YLOD, Bluray drive issues, DVDs being scratched. This is an effort to improve reliability, offer a huge jump in visuals, and price at sane levels.
This is healthier for the industry as a whole, but if you want that 500 watt monster, go buy a gaming PC- console gaming is not for oyu.