I have to say that was my guess too. None of the conferences gave me confidence in any one companies offerings. If I had to invest in a new gaming console and I had this year to base my decision on, I would be turned off. I would go with PC gaming, social gaming, or Ipad or Ipod touch, or Android device. The industry has reached a stale point and rehashing the same old stuff. The innovation is really coming from the IOS and Android areas. Why pay for a $60 rehash when I can easily get a quick fix on a game for $5. Console gaming has reached its end I think. I know alot of people and friends are in the same boat. It has just gotten so stale. Nothing really grabs me. And I have been playing games since Atari. This is the first time in gaming that I am completely not interested in anything from any company.
If you're talking about stuff like Call of Duty, Gears of War, Halo 4, Tom Clancy #33, God of War, Assassin's Creed, Just Dance Central 3/4, Dead Space, I agree. While I like Assassin's Creed and God of War, I think it's a waste of dev time/money/energy for a multiplayer that'll be dead in a month online. And I'm sorry, but the ship battle in ACIII looks dumb and annoying. I can see many frustrating checkpoint reloads if your ship goes down due to poor control. Also I don't know how the Assassin's cloak fits with the time period either, so out of place. Sure the games are a buy for me, but I'll CAG it up to $20-30 and play my backlog in the meantime.
But things like Watch Dogs, Beyond, and Last of Us surprised me. They are looking great, unique, and fun. I'll glaldy pay $60 (no I won't, I'm a CAG, I'll find a deal) over a $1 iPhone game that kills 15 wasted minutes of time.
Even Tomb Raider is mixing things up, looking like a survival game now. Not sure I like it, but at least they're trying. Honestly I think the name Lara Croft is hurting the game more than helping, should have been a new IP.
Borderlands 2 is looking awesome. I think the new classes, skills, and areas will keep it fresh. Not to mention chasing that glorious loot!
Bioshock Infinite looks different from its previous games, can't wait to see how that turns out.
So in short, I don't think everything is stale. Stale to me is Draw Something, Plumber Buttcrack, or those dumb sim games like Tiny Tower. But a new console gen is too late. They missed their mark to move on and there are just so many current options that no one will want to adopt the next gen early.