I was in high school, ah those were days...
I remember how they backrtracked super hard on the boomerang, what a joke that was heh. And i also remember all those teasers and trailers that ended up just being vaporware CGI fests. It was indeed unfortunate.
However the hype was real of course, i could not wait to get one for KH3 and FFVersus, FF13, Tekken 6 and all those previously Playstation only franchises.
The reality being for me that i didn't pick up a PS3 unti 2010 cause i was so pissed off that they fucked up almost everything to the point i could not even afford to get one, but i think it worked out in the end. The exclusives both third party and first eventually made the difference as MS went in another direction.
The main failure being that even after all that , 360 was still my main way to play multiplats regardless, and considering that is the majority of releases, what they took away with the PS4 was undeniably correct. Now they just need to get their first party house in order...i know SSM, Evolution, and many other Sony studios have crashed and burned in recent years, had to essentially press "restart", but i'm hopeful. Here's to hoping PS4 is looked back on better in February 2023