PS3: It started bad but lucky they decided for the Blu-Ray. It was basically a cheap Blu-Ray player.
Yeah, on release it was one of the cheapest, if not
the cheapest Blu-Ray player out there. So it was also bought by home theater enthusiasts, who may not buy a single game ever. At the time, despite the atrociously high price of the console, Sony was making a loss of like $200 per unit. Just check out Sony's profits, or rather losses, from that time period. Also hindsight is 20/20, but in retrospect, I don't think the Cell was the right call. Don't get me wrong, I like it from a technological perspective. It's alien. It's different. It's weird. We need more weird. And it excelled in certain types of computational tasks, if you made the effort to use it as it was intended to be used (this was not a trivial task). But as a general CPU for a game console... maybe not the greatest idea.
Sony was indeed lucky during the PS3 era, being able to finally catch up with 360 towards the end of it, but I think that was despite their decisions instead because of them.