This generation had a lot of great games, don't get me wrong, but as most of the others in this topic have already stated, a lot of 360 and PS3 players would just have pissing contests to see who had the better console.
The Wii was mostly just shovelware, so yeah.
That said, it was an amazing generation for PC gaming.
PC is flying with games like Hawken f2p. Next gen will be the make or break for consoles with such new tech coming and phones and tablets changing how we play now. Can next gen get it right, time will tell.
The crash was in 80 something i read, but anyway i think things will still be about the big 3 we have now. Also the nes came out of the crash just a couple of years later and was a smash hit so any downward dip would be small. The industry is just more dynamic.