Three years into its lifespan you can actually get a PS5 in a store, like a normal consumer good, and with a free game bundled to boot (at least while they clear out the old stock.)

The thing that will always stand out to me about the PS5 is the process of obtaining one. I checked Wario64’s Twitter feed for months, making probably two dozen attempts to grab one by any means necessary that did not involve a scalper. I ended up buying a bundle from Gamestop that, at least, included actually desirable games (Demon’s Souls and Miles Morales) and not shovelware. When the console finally arrived it felt almost like getting a system for my birthday as a kid, including it arriving with a fantastic free pack in platformer that delighted me. Maybe the last time a game console will feel special for me.

The PS5 has continued to sell incredibly well throughout its lifespan, breaking records despite a chip shortage that constrained supply. It has shifted a lot of software too, with the recent Spider-Man 2 game being the fastest selling title in Sony’s first party history. Despite being incredibly ugly and bigger than an original Xbox the PS5 is an unqualified success so far.

And yet it has not been without its missteps. PSVR2 seems to have landed with a wet thud, and while it is still getting third party support Sony does not seem to have anything in the pipeline for it, though I’m sure some VR modes will be added to games that can handle it, like they did for Gran Turismo 7. The PlayStation Portal is a baffling, though I guess It may appeal to Japanese sensibilities. PlayStation doesn’t seem to have a lot of big announced game on the horizon, and it recently announced the delay of a suite of live service projects that, frankly, were a bad idea when announced (why would a company split its audience among 10 different live service titles, each of which is very demanding of player time and competing with existing games?) and seem worse now, when the market has turned against most live service offerings.

The new PlayStation 5 slim reduces the console’s size while dutifully maintaining its hideous aesthetics, but its detachable disc drive comes with a few issues, including requirements that it be registered online to function. PlayStation Plus’s price went up while its value proposition has arguably gotten shakier, with the monthly games arguably degrading in quality and the higher tiers seeming more and more disappointing. Sony’s shuttering of Japan Studios shows that it has lost interest in the quirkier and smaller projects it used to excel at, putting all its eggs in the blockbuster game basket, and relying on third parties to provide the smaller experiences in between hue Naughty Dog and Insomniac projects.

Is this the return of arrogant Sony, the company that flubbed the transition to the PlayStation 3 with ludicrous prices and inferior system software and games, before recovering in the back half of the generation?

Probably not, but it does seem like Sony is getting complacent. Its business is booming. Its games are hot. Its biggest direct peer in Xbox is floundering. Sony clearly feels like this is a time to profit on its market lead and not worry too much about competition that can’t really compete.

On the other hand, while Nintendo Switch is nearing the end of its lifespan and is hopelessly outclassed in terms of graphical power, the Switch 2 seem to be around the corner and that might change. Steam is also gathering…well, steam….with its Steamdeck devices, and there are rumors they might launch a home “console” type PC device that draws on Steams vast library and much lower prices than console makers have. None of these threats seem immediate but Sony’s position is not invincible and there is a history of periods of dominance being followed by humbling missteps in the console space.

Nonetheless the smart money is on Sony continuing to cruise as the firm market leader in the traditional console space. Its expansion into the PC market has provided a fresh revenue stream and its games are incredibly popular. At this point the PS5’s install base is already so big that it will be very hard for anyone other than Nintendo to catch it in the near future, and Nintendo seems to be pursuing a portable first strategy that makes its systems somewhat different beasts.

For all its flaws and everyone’s complaints the truth is that Sony has given gamers what they want and is reaping the benefits. It’s Sony’s game to lose right now and so far they are winning. We’ll see how the next few years play out but I wouldn’t bet against them.