Sony's PSX is no threat to PIC, because it is too expensive to be a mass consumer item. Also the fact that it features old gen PS2 hardware makes it seem out of date before it actually hits the major markets.
Most of PIC's business comes from Service Providers like SKY, NTL, TWT, Comcast etc who want high quality low cost hardware to sell their TV services on. Whilst they may offer comparable games services in future via their STB's they are unlikely to use Sony or Microsoft hardware - because both Sony & Microsoft themselves are aiming to take a major share of these gaming revenues and are dependent on them.
Interestingly enough PIC already offer Gaming Services to their Service Providers, though whether or not this will take off in a big way is far from clear. The technology though has already been developed...
It has major earnings potential - because the games are supplied as part of the service, they don't have to be specifically purchased and there is virtually no capability of piracy. Broadband needs to be very widely available and faster before Server Based Gaming can take off in a big way. But it has very interesting possibilities and could eventually take a slice of the current console market.