I find that line of argument weak. If we accept the premise that first party exclusive content is irrelevant (??), and we have continuosly upgraded platforms, why would that encourage staying with the same manufacturer? The situation would be like TVs. Common content, and once consumers feels the urge, they go out and compare their options on the market. That's not a setup that encourages brand loyalty, someone who bought Sony may well go for Samsung or whatever the next time around.
The line of argument doesn't really make sense to me, and I'm not sure that the simplified underlying premises help either.