Specifically, the crappy software sales.
given 2nd hand buy back prices at Aki and some titles (despite low sales) not being available suggests that pubs went with small shipments. Looking at the % sold through a lot of games according to Chris1964 (from Shinovi) are at 80-100% sell through.
Added to that - A lot of places are offering close to 100% of the price to buy second hand games - it's not quite the simple doom narrative i don't think.
You can only sell what is there to sell, though of course the point is that the appetite still maybe gone for consoles - and that's a longtail discussion
And the line up is what? Knack? Killzone? NBA? Fifa?
The basic take away is that it's hard to draw conclusions either way - it's early days and for each positive post, there's a negative one and everyone seems to be clambering over the data to get it to fit whichever side of the DOOM!/WIN! story they want to be.
PS4 will be fine, it's doing better than people expected despite an awful Japanese line up and a relatively high price.