He's right it doesn't...in theory.
There's several things Sony did wrong for the launch of the ps3, the major one being a lack of titles that had any interest or appeal.
If they would have remade FF7 and launched it with the PS3 we wouldn't be talking about this and they would sure as hell still own the market today and maybe just maybe that direction would have made them release quality titles.
I have a ps3, 360 and wii. I bought the ps3 last because there was no damn games on it that interest me. The only titles to this date that I consider well made titles is Heavy Rain, Little Big Planet, and of course the Uncharted series. Other than that, they have nothing. Kill Zone never interest me and never will but it probably helped sell units at some point.
Console features, game line up, quality all make or break the console. Needless to say if you want it you are going to try to find a way to get it. So no price does not make or break a console, the suits do.