My theory is that the industry is dominated by casuals whose #1 concern is the games they already know. When have casuals ever cared about new, unknown titles? Especially titles that aren't hyped to the hills? Casuals want shooters, twitch games that require no thinking, and games that have a 2 or higher in the title.
The PS3 right now is getting some really good games, but there are none of the new titles are super hyped (outside game forums) and none of the big hits or franchises are out. Their two million sellers are games that took time to really sink in and sell over time.
Look at some of the best sellers on the 360...sequals that people KNOW about and look forward to (The Halo's, Splinter Cells, PGR, etc), you have the new titles that really break through into the mainstream due to super hype (Bioshock and Mass Effect) and you have a bunch of casual titles like shooters and arcade racers to fill in the gaps.
On the other hand, the PS3 has none of its big franchises out yet (and many are still pushed back), its big new ideas never had the break through hype for some reason despite advertising (Heavenly Sword and Uncharted). While the PS3 does have some shooters and other casual titles, they are all multiplat which, unlike with the 360 where they work to fill gaps, won't appeal to any casual waiting for a REsident Evil or Metal Gear type title. Actually, the only real franchise out has been Ratchet and Clank which for whatever reason didn't do that great. Perhaps casuals aren't buying the PS3 (up until the $399) and instead only Sony faithful, tech-nerds and people who buy every console have the PS3 so far.
Who knows what the reason is?
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