If there's one advantage consoles should have, it's that they're their own ecosystem. Unlike with PC, where emulation and support is becoming increasingly difficult for those behind such things, consoles are beholden only to their own exclusive operating system and hardware. They don't have to worry so much about compatibility compared to, say, Windows, and all the changes to the parts that go into a case.
They do however have to contend with the used games market and the graphical arms race publishers want to push, meaning whether they want to support a console or not is at odds with the money they'll make from it as time goes on. What doesn't help, and as far as I'm concerned is inexcusable, is the online requirements for patching firmware such as internet connections during first-time setups or after formatting.
I'd be fine with them cutting support for a console the moment the next one comes out if it weren't for that; otherwise I'm just waiting in the rafters to say "another blow against digital ownership", and move on to the next thing I'll get mad about.