These days a lot more people buy stuff just because they can. Even with the recent recessions consumerism seems to be at its highest.
What happened with Wii on the past gen is understandable. It was the toy to have. The trend was over and these toys ended up collecting dust, without consuming content.
PS4 is a promising platform, but it’s not the time to go get one. No at it’s current price point, nor with its current (exclusive) catalog.
As per the other functions, these can be done with other devices, including the (almighty) PC.
Just recently I got me a PS3. With the exclusives released so far there is fun to be had for a while.
Heck, the PS2 has a lot (and I mean a lot) of gems waiting to be discovered.