Yeah, PSX fans waited for a Ps2 because it was going to have better graphics. Then they didn't wait for a Xbox, or traded one for the other because graphics didn't matter anyway.
It's how loyal fan bases express themselves man. My favorite product is better because of this and that.
Dreamcast was ace. I remember playing quake 3 online on that thing man, on a 56kbs modem... Sega was living in the future.
I waited for ps2 (I wanted a dreamcast so bad but I couldn't afford both, I was 15 then or something, it took me a long time to save up for EU ps2 prices - 525 euros...-).
You know what I did when xbox came out? I traded my ps2 for one. (personally I have 0 brand loyalty, I'll dump whatever I'm using if I feel something else might be fun or is better or is more interesting)
I had like 25 ps2 games by the time xbox was released man... it took two years, how many people would be willing to lose their library like I did?
When people who waited for ps2 bought one, the xbox wasn't a twinkle in Microsoft's eye yet as far as the gamers were aware.
If they launched at the same time then xbox would have made ps2 tech look bad and things could have ended up a lot differently. (but they didn't, and the reason of the power gap was the 2 year tech progression gap...)
All my friends were pretty jealous of the xbox, it ended up at their houses more than at mine, but for them it was too late to switch and lose all their ps2 games.
It makes no sense to compare it to two consoles releasing at the same time (or within eachother's launch window for the sticklers)