Despite Mr. Kotick's greed, consoles are here to stay.
While it's true that PC gamers will have the upper hand with visuals (usually within months after a console launch), the fact of the matter is that the average consumer doesn't want to buy a PC money pit that will require know-how and constant upgrades he neither has nor wants to work for.
Tycho at Penny Arcade has outlined the problem many times, and frankly, even when one pays for all the upgrades required to play at "normal" settings on many games, sometimes the hardware or software simply won't play with each other. Bugs and mods are far more rampant due to the sheer number of different specs being used, and unless you're in the hardcore camp, for many people it's simply not worth it.
PC players will always have their mice (for RTS and FPS's) and bragging rights regarding sharper textures, better lighting, framerates beyond what the human eye can even register, etc. Console gamers will have games that are often more stable, a system that needs replaced every 5+ years, and a setup that requires far less technical knowledge and patience (remember, half the people with HDTVs still run component to their machines!).
