There will be more console generations. Games have never been bigger so why shake things up. Once the next big crash happens (if ever) then something might change.

As well, I expect Microsoft to announce their next-generation console at this year's or next year's E3. Possibly this year, definitely by next year.

How about they acquire people who can make a main series Final Fantasy game within a reasonable time frame.

Get used to it. The bubble is finally bursting.

Why can't Blizzard operate the game themselves in China? Must they licence the game to a Chinese company?

This bubble is going to burst. And it's going to burst big.