If this gen lasts more than five years, I'll be blown away. With people demanding the industry stays pretty much status quo in every respect, including distribution, offline play and not wanting Eye or Kinect in the box, they're pretty much guaranteeing all we'll get is the same games with better graphics. "We want innovation, but not any of the things that enable it!"
What is the value of buying a PS4 over a PC, with the exception of some exclusive games? There isn't one. We saw last gen that multiplatforms are more often than not the best games, and the best sellers.
What is the value of buying a Xbox One over a PC with the exception of Kinect and some exclusives? The only unique thing they have going is Kinect. That's it. Kinect at least enables some things that your PC won't do. Some exclusives too, but same applies from PS4.
The cost of getting a reasonable gaming PC is going to drop. In two or three years, if I didn't have an Xbox One or PS4 already, why would I buy one instead of getting a new PC with whatever comes after Intel's Haswell, or a tablet, Apple TV or whatever? Apple, Valve and some of the indies are going to make a killing. Microsoft, Sony and the traditional console market is going to face tough times.