Another real reason for the crash was a flood of games so crappy, that no one could figure out which ones were good, and which ones were a steaming pile of expletives.
Because game development has become more complex, the rise of game reviewers ala Internet (even if highly flawed, there are honest ones, ie Penny-Arcade and the Escapist), and the fact that we aren't likely to see anyone else try to enter the console business (EA's crazy, but not that crazy, same with Square-Enix, and Apple's too focused on the iPod) all contribute to NOT creating a new crash.
That's not to say it still couldn't happen. Rising prices could cause a second crash (PS3 comes to mind- cheapest 360 is a hundred $ less, and the Wii is in 'normal' territory).
As for portables... I'm pretty sure Microsoft and Co. aren't stupid enough to compete against Sony and Nintendo... yet.
Because game development has become more complex, the rise of game reviewers ala Internet (even if highly flawed, there are honest ones, ie Penny-Arcade and the Escapist), and the fact that we aren't likely to see anyone else try to enter the console business (EA's crazy, but not that crazy, same with Square-Enix, and Apple's too focused on the iPod) all contribute to NOT creating a new crash.
That's not to say it still couldn't happen. Rising prices could cause a second crash (PS3 comes to mind- cheapest 360 is a hundred $ less, and the Wii is in 'normal' territory).
As for portables... I'm pretty sure Microsoft and Co. aren't stupid enough to compete against Sony and Nintendo... yet.