So no one mentions the possibility that Intel launches into its own console venture?
Since you suggested it one, explain the thought process for Intel:
* What strategic advantage is it for Intel to enter the market?
* Can Intel make their investors a profit in the console arena? (Or is Intel's core business at risk by not entering the console arena)
* Does the console market align with their synergies and business model?
* Does Intel have the retail channel relationships to demand shelf space?
* Does Intel have Software IPs that will appeal to consumers?
* How will Intel aquire an internal group of developers? At what cost?
* How will Intel lure publishers support away from (or, minimally, multiplatform support) the established brands created by Nintendo, Sony, and Microsoft?
The list can go on and on.
As noted in the past, with each passing generation the "cost of entry" inflates. The real question is synergies: does Intel have a business model and relationships that compliment the direct entry into console market?
For Intel it is quite backwards. They aren't protecting a software platform (like MS) and they are "The Man (TM)" everyone else follows in the chip market. And they aren't a "games maker" like Nintendo and they have very, very few "direct to consumer" products, notably CE goods, like Sony.
Their game is the high margins market with their processors--which the console market is adverse to. Intel doesn't have game developers in house like the other three do, and if you noticed lately the cost of a great developer is hundreds of millions of dollars. Then they have to foot the bill for new marketing and distribution networks as well, and importantly, for an online network.
Without strong partnerships with publishers (or hostile bids) Intel would be pumping billions into a lost cause. While I don't doubt that Intel would like to be in a console (on their terms of course), they have nothing to gain in terms of their current business nor nothing vital to protect which would necessitate huge losses required to get a foot in the door.
If Intel felt it necessary to enter the market to protect x86 I think it would be much safer -- both in terms of cost to Intel as well as reaching the desired goal of market penetration -- to work out a sweetheart deal and to get their chips into an established player in the market.
Anyhow, you will have to create a strong scenario for Intel to invest in a competitive market which tends to thrive on a model where hardware losses can tally into the billions over the lifetime of a generation, only to be offset by software. There is a reason companies like Dell aren't in the market.