And how much do you think the drop in Xbox is? It's way more than 7 percent. The problem for Sony isn't that its console is dying; it's that they're approaching market saturation. They've got their market cornered in a way that they never have, and they've only got a 7 percent lead off of the last generation. Peak dollars spent on consoles was back in 2009, when all three consoles were in very healthy competition. Many PS4 users are happy to stay on PS4, because the games they play are over 10 years old, like Grand Theft Auto V and Minecraft, so there's no need to upgrade.

Meanwhile, a console that launched with some idea of every game running at 60 FPS is now compromising on that (it was inevitable, but people believed otherwise). Games that used to be console exclusive are now coming out on PC, where you don't need to pay a subscription fee to play online and your library always comes with the assumption that every game you have will be forward compatible. Even if you buy the new PlayStation, there's no promise that your old games will run at better resolutions and frame rates. The controller you bought 10 years ago still works on PC, but Sony says you need to buy the new one, even if the game you're playing uses none of its new features. The VR system you bought before doesn't play the new VR games. For all sorts of economic realities, not the least of which are certification processes and licensing fees, there's a good chance that game you really want to play is on PC long before it's on console, in early access or otherwise. There are no competing storefronts for digital releases, so you can only pay what Sony says you have to pay. Consoles also aren't even significantly cheaper than an equivalent PC anymore, and they run basically the same hardware under the hood, so the reasons for a console as we know them today to exist are fewer and fewer as time goes on.