Console MMORPGs could be a humongous fucking cash cow if done right. Hell, I am 100% sure the next non-WoW Blizzard MMORPG will be a PC/console game and it will achieve at least 50% of WoW subs on consoles.
Other companies that are currently trying to get in console MMORPG market which is a fucking desert BTW are just hoping for a quick cash grab. Their line of thinking is "There are 40M console players and no MMORPG for them. Let's throw some quick shit together and roll in money!"
When Blizzard steps in, everybody else will get fucked pretty badly. And I am 100% sure that MS would not only not make any obstacles for Blizz to join in but even pay them for doing so.
That's the thing, though, is doing it right. How many console MMOs have been announced and then scrapped 1-2 years later? Level-5, the Halo MMO, the Marvel MMO (yeah, also made by Cryptic, but still), and I'm sure there's a shitton more I'm forgetting. And even if MS weren't allegedly keeping MMOs off live, AoC's 360 port is already a full year behind schedule (or was as of a year ago); everybody's expecting for them to shit/bin that any day now, especially since they couldn't even get the PC version right

I guess if anyone can do it it will be Blizzard. I dunno if I'm just stubborn, though, or what, but I cannot make that transition from keyboard to controller.