Trust me, when all is said and done, Sony will make money off of the PS3. They HAVE put all of their eggs into one basket, or so it seems, but they can afford to do so.
If the Blu-Ray becomes a success, the PS3 will win the console wars, hands down. If the blu-ray doesn't catch on for whatever reason, there is a chance for failure, but considering the rapid improvements in technology, over the course of the life of this system, the price is certainly going to drop. And people will buy it later on in its life cycle. It will be similar to what happened with the PS2.
Remember, the PS2 was not the leading console right off the bat. But now, with over 100 million units sold, they are easily the winners. I mean, I just bought one this year! Its a great system.
The Sony reps predict a life cycle of 10 years for the PS3 (which is on the high side) but don't you think that over the course of 10 years, the PS3 will overtake all systems? The technology involved in creating the PS3 is far more advanced than the other systems and is therefore more "future proof". That is what will cause people to buy this thing down the road.
Sony is going to be fine, but I hope Nintendo can regain its marketshare that it lost with the GameCube.