I really don't think this is a single issue deal. Sony have done an amazing job of 3 console lifecycles now, with only a relatively small number of missteps. Most importantly, consumers can purchase a Sony machine and know it will be supported for a significant period of time with good software and services. Even my launch fat PS3, castigated at the time for its price, is still under my second TV now 7 years later as a great media player and PS plus feeding it software. My PS3 was incredible value.
Consumers know what is coming for PS4, as Sony has always delivered, the fact the exclusives aren't quite there yet is largely irrelevant.
The relatively early dropping by MS of Xbox, the massive hardware problems on 360, I think these have had an overall negative effect on consumers. I bought both, suffered, and the Xbox brand is damaged to me despite the great games.
Sony has the trust, and the launch of the latest gen just played right into that. It was a no brainer for people invested in Playstation to stick with it and an easy decision for others to move.