You know, it's kind of nuts how Sony basically bet the farm on gamers. They already tried that with Vita- they made one of the best handheld hardware devices ever, and pushed all of their major franchises for launch, at a great price. And it just failed completely. Turns out the hardcore handheld audience wasn't really there anymore, or had moved on to mobile or elsewhere.
And here's Sony again, announcing a new PS4 console, with little entertainment options outside gaming- it is a pure games machine, and it is once again betting that the hardcore gamers are still out there to sustain something like this, despite declines in sales over the last few years with current gen. Once again they were trying to create the best gaming platform at an attractive price, and like with the Vita there was no guarantee that it was what gamers really wanted anymore.
Microsoft had no such faith in the gaming audience. They knew the market was contracting, and they didn't really want any part in trying to fight for marketshare of a smaller and seemingly declining userbase. So they branched out in all directions, coming up with a plan B, plan C through Z. They spent $400 million on the NFL to create some official apps. They created an Xbox media division to create television content, to make their own Netflix style entertainment property. They included Kinect to branch out to the casual users once again that had rejuvenated the Xbox 360 platform ever since Kinect 1 was released. They infused Windows style ideas so that they could soon include the Xbox into the Windows ecosystem. They also knew that their userbase of gamers could be lower than previous gen, so they came up with a way of making even more money off of what would perhaps be a smaller audience- always online DRM that ensured MS would always have a piece of the hundred million dollar used game market, as well as requiring all first party games to have microtransactions.
If the gaming market wasn't there, Sony would have been in dire times. They had no backup plan. At the very least MS could start leveraging their entertainment aspects of Xbox to try and get other people on board. But, as it turns out, console gaming is still pretty damn big. It's too early to tell how big, and how long this PS4 demand will go, but so far Sony's plan to bet it all on gamers is paying off nicely, and MS trying to branch out to everyone has left them thumbing through their backup plans to see what step to take next.