For the record, Neo Geo consoles could not sell because each cartridge ranked in cost of over $150 to $250 each so it did not matter that the console's cost was $699.
The SNK Neo Geo console, wich had no previous history or mind share among gamers other than being a monster with monster prices, remember most of the mindshare wars back then was between Nintendo and Sega.
Sony's PS next or PS3 is a sequel console of a practical possible dinasty of ruling series of consoles named Playstation while Neo Geo did not carry any weight or consumer confidence outside of Japan.
Further Playstation has an established fanbase of fan persons and anti PS2 gamers who own the console because they have to, if the PS3 promises and actually delivers some nice fat numbers in the form of hardware specs, then as long as games are still under 60 to 50 dollars the PS3 will sell out on the assumption of it hosting some incredible sequels wich is what PS2 promised and technically delivered eventually.
Basically a hard core gamer will snatch up or sell his soul for the power of a PS3 while a casual gamer will buy the console thinking it is the highest fidelity of home entertainment.