There's no reason that it can't though. I'm sure there are some indie games out there that cater to a crowd like that. USB controllers aren't expensive, and a laptop or mini computer (typically costing less than a gaming console, I see one right now for $250 with better specs than the current gen of consoles). You could tote that around to a friends house with remotes, load up some emulation software for old games or load in your shiny new game with multiplayer support through the HDMI out.
Not saying that it is the same, but I have been doing this with a laptop since near 2004. Having a wide selection of roms to choose from is nice too. As a bonus, you can upgrade or repair the mini PC as needed, to an extent of course. You're still limited by what's available in that form factor.
The option is there though, costs roughly the same as a console, with the addition that it is slightly more complex (and rewarding) when pulled off correctly.