All I know is I'm sure Sony and MS are crapping the bed about Valve's plans with PC gaming. If you don't think they aren't SERIOUSLY concerned then you don't know what you are talking about.
hahahahahahahahahahah
on a side note, i used to laugh at people like syntax, since consoles have always had MANY great games you couldn't get on PC. These days though this seems to be changing. Over the course of the PS3/360/WII generation, developers have increasingly brought what would have previously been "console only" games to PC on day one. At this point, lots of people have computers that are at least as powerful as a PS3/360, and anyone who has a "gaming PC" has a machine that is far more powerful. So as far as this generation is concerned, there's increasingly little reason to need a console in addition to your PC. You can even just plug in your controller (whether PS3 or 360) and huge monitors (resembling the TVs of yesteryear) are cheap these days.
Of course this will change again in the coming year or two, when the next generation arrives. People will whine about shelling out 400-600 dollars for a new console, but the machine you get will be far more capable than whatever PC you could build for a similar price, and everything will be as it was. However, this window where the console has a power advantage will be shorter than ever before, and the PC releases will start coming sooner rather than later. Even the biggest "console seller" titles will probably make their way to PC. And by next-next generation... who knows, the console advantage may be gone entirely. PC "ports" could become available almost universally by day 1. At this point I might actually lose interest in consoles.
Who knows, really... maybe in the next 10 years or so you'll just buy an "Xbox live" subscription, and all the game-processing will be run "on the cloud", with the video output being streamed back to your TV. No need to even buy a computer or console.