I think we're moving past this whole mascot restriction when it comes to console gaming. The only character that has been a mascot through and through is Mario for Nintendo, and this is largely because he was developed and nurtured through a time where mascots were deemed a necessity. Mario also happens to have the longest staying power and is an iconic character in his own right.
I believe that both Sony and Microsoft are thinking less about "what can me make our mascot" and more "what can we pimp out for a few months to sell consoles." Hell, I don't even think Nintendo has that in mind, but Mario is such a powerful image that he simply stays at the front of the company. And really, that's the proper business direction anyway.
I think the easiest straight comparison might be Master Chief to Solid Snake. Both are exclusive to their console (for now anyway), both have their own custom variant console, both have their own variant headpiece, both were pimped out incessantly, and both were given exception ratings.
Although, I do love me some Kratos. He has a lot of potential, but not mass market appeal. That's the problem. Hardcore gamers and guys love him. If they want to branch to another crowd, they'd probably find it pretty difficult to market a brutish, violent, selfish, destructive, god killing spartan publicly. A sci-fi super soldier (Master Chief) or a special ops agent (Snake) are in more favorable positions from this perspective.