I actually think its both, a rip-off and not. its not a rip-off to most people but they feel that is. People keep bringing up the computer arguement. but the thing is that most console gamers aren't heavy computer gamers for that one reason that it can get incredibly costly to keep your computer up-to-date, (i'm not trying to say that console gaming isn't a pricey habit in itself) so they stick with there consoles which used to be the same system since release to its death.
Most systems have a lifetime of 4-5 years. And people are used to going through that lifetime without any big changes whatsoever. I mean sure the older systems have come out with newer things, like the Playstation turning into the PSONE which was just smaller and more stable and even with the PS2 becoming smaller and more stable. but no one is used to sudden upgrades half way through the systems lifetime. console gamers aren't used to a newer package adding things that they didn't orginally add because they thought it wasn't needed but suddenly wants to add it now when another company added it in from the start, they feel that maybe they aren't getting maximum profit.
but to get back to the point, its not a ripoff for me, i bought my system close to launch, its been a long time. i knew what i was getting when i got the core and i knew that if i wanted a system with superior technology i could've saved for the ps3, which i did. BUT I absolutely agree that the people who JUST BOUGHT themselves a premium are getting ripped off. cuz they just dropped 400 for a system that in a way is inferior to the elite package. when if they were warned that another system was coming out a few months from now they could've waited for that superior package. but then again its all reletive to your situation. i want it cus of all its new stuff and for the main reason that its black, cuz i like black. but i'm not going to get it cuz its expensive, i dont need 120 gigs cuz i'm not a heavy multimedia user, and i dont have an HD tv.
but i think that if companies continue to release updated system packages half-way through a systems lifetime, that more and more people will just not buy the initial launch system and wait it out for the better one. and only the people who "have to have it now" will get it. .....but hey, thats just my 2 Cents
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