I am afraid the massive success of the Ps4 will lead to an arrogant late Ps2 era-esque Sony.
I'm really tired of seeing this. I don't think people really know what arrogant is when it comes to consumer products.
Having the cheapest blu-ray player on the market, free online, built in wifi when the competitor charged $100 bucks for an add-on, backwards compatibility with the PS1/PS2, DTS, the ability to change your HDD while losing ~$200 on every console sold isn't arrogant.
If they used the same "arrogant" approach when creating the PS4 using a value proposal similar to the launch PS3 we would have gotten backwards compatibility and a high end GPU. The price might have been 500-600, but you would be able to clearly see that you were getting more than your moneys worth.
As a consumer, arrogance should relate to when company charges a high price with a low value proposal because they think people are going to buy it anyways. I don't see why anyone would put silly quotes over the value of the hardware.
You don't have to worry about that "arrogance" anymore though. They learned that people stop caring about the value proposal when a console goes above $400. That combined with Sony not being able to that a big risk like the PS3 means we won't see another console like that again. Cheap and profitable within the first year is what we'll see for the remaining console generations from Sony, Microsoft, and Nintendo.
EDIT: A better word is to use would probably be "foolish" or "naive" to think that people wanted to spent $600 on a console.