I just don't get enough out of my consoles anymore. All I have from the current gen is an XBOX360 Arcade system, and I only bought it because it was on sale for $99. I've spent about as much on games for it, but I've only used it for maybe 100 hours in the last three years.
I'll upgrade to a proper PC at some point in the next couple of years, but I may never get another console or handheld.
If the Wii U sees a massive price drop and and a bundle with games I want, I could make an exception, but I'm not spending $300 on a console that will only ever see a handful of games.

