So let's fast forward to fall, and you want a device that plays games, movies, media, lets you communicate with friends, all the normal shit that people want to do with these things. Are you going to drop $400 on a PS4, or $400 on an iPad?
My fear is the market that cares about jaw dropping graphics and huge budget games has shrank to the point of being irrelevant. The Wii U is either a poorly thought out aberration (our/GAF's hopeful assertion) or is simply a sign that dedicated home gaming consoles is a market in its death throes.
When Sony rolled out that PS4 which is going to cost a fortune based on the hardware inside, it became evident that they still don't understand why the PS3 flopped compared to its predecessor. What they really needed was a recognition of the changed market.
For example, my hope is that Microsoft takes a "if you can't beat 'em, join 'em" approach and lets me play Xbox games on my iPad, using a Bluetooth controller anywhere in the world. Just let me stream the games off my Xbox at home. Sony alluded to this with the Vita, but people are not going to buy a Vita to do this, as that system is an expensive piece of shit, useless for anything but playing a scant handful of games on its own.
People own iPads and smartphones and carry them everywhere. Let me use mine as a display for my Xbox, and not keep me anchored to my TV. People simply do not consume games and television like they used to, and the failure to understand this is one of the reasons the Wii U flopped, and I fear the PS4 is headed down that same path.