Was really hoping someone had posted a good summary ...

First, title is misleading. Reads like a state of the state to me.

Second, "Can console makers really continue as they have for years, releasing updates only every once in a while and dealing exclusively with preferred developers?"

For the former, I sure hope so. The more time goes by the better quality the games tend to be. Instead of gimics to test the system they know what's good and they use it.

For the latter, I suppose he's referring to indie developers, but I read an interesting article elsewhere that mentioned that no one is releasing sales numbers (save the big winners) which leads to the suggestion that you can make more than you do.

Also interesting was his talk about the WiiU; made me think his answer was going to be 'no' instead of 'who knows, we'll have to see.'