Understand something, last time I heard Square-Enix had a lot of it's stock owned by Sony. Not a majority, but a lot. This means that by definition they are going to favor Sony in all things. The "big" news that there was going to be a Final Fantasy game for the 360 being an oddity for this reason, however we also don't know exactly how much money Micro$oft wound up offering Square-Enix for that little concession, but going by the GTA IV exclusive content it was probably a crazy amount. As Sony doesn't own them/have a majority they can be overruled, they just get to have a (very substantial) opinion. The same also allegedly applies to a lot of other Japanese game developers. Even if it doesn't own everything Sony is like an octopus with it's tentecles in many pies.
It should also be noted that creating RPGs well is a lot of hard work, in comparison the types of games produced for the 360, even the "triple A" titles are a giant joke. The reason for this is that with your typical RPG they develop what amounts to a new engine from scratch. No "Final Fantasy" game plays exactly like another (or at least recently) for example. In comparison a lot of the games released for the 360 wind up using things like the Unreal, or GRAW engine which provides all the hard work, and then they just add new tweaks, graphics, and animation. Now graphics and animation are hard work, but not as much as doing everything from scratch.
In comparison RPGs also usually need MORE models and such than a comparitive action game to fill out a RPG bestiary, even when they rely on color changes of the same models at various levels. In your typical 360 shooter having maybe 15 differant opponent models (not counting bosses) is sufficient.
Basically RPGs don't really fit with Microsoft's marketing strategy, being too expensive to reliably produce. Even a mostly 2D RPG (like Disgaea) has a staggering amount of coding and art production behind it compared to what your typical game producer does when they buy the rights to an engine.
That is how I understand things.
Consider also that while Microsoft was focusing on the 360, Sony was investing it's money in winning the war for next gen video formats. It's only been turning it's attention back to the PS-3 now that it's won and Blu-Ray is the new standard. Their strategy is pretty much going to be the same as last time, and that is to cut the floor out from under Microsoft with a lot of original titles that don't just recycle the same engines. The result being you'll see exceptions, but the PS-3 is likely to have a stronger RPG line up.
The only way to stop this of course will be for Microsoft to encourage producers and such to start investing the $$$ to develop RPGs in similar numbers, but in general I don't think they are going to do so. As a result it will remain mostly a "twitch" platform with a few RPGs here and there.
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