exactly. I bought my 360 when halo 3 dropped, I was still playing ps2 and GameCube just fine. I didn't care about the new gen yet.
The first year of any system sucks. They blow a wad of mediocre launch titles that are mostly ports from previous generations then you get months of little to no releases. This isn't anything new most all consoles are like this.
Unless you just have the disposable income laying around it isn't wise to buy a console in its first year. In the transition to a new generation there are usually enough titles on the previous generation to put off buying any new consoles until the first year drought has passed.
People who buy these things on launch day are enthusiast like myself who just blow money on the latest tech gadget not value shoppers that have to be convinced by quality software that a machine is worth buying.