For once I wish I had mod points to Mod up some of the comments below this Post.
As stated in other comments, Xbox has a long way to go before reaching the level the PS2 has managed to reach. Technical Problems aside, the hardware problems has tarnished the image of the X360 release. 2% or not, many seemed to know someone who knew someone who's brother's dad had problems with it. True or not hearsay is powerful.
Next-Gen is still unknown to the masses. Technology right now is diluting itself. Retailers are pushing Hi-def, but there is little content for it, and non-techies can't tell the diffrence less they see it side by side. HD/Blu-Ray are pushing for new Media, but DVD is out there, and VHS still has a significant role as well, evident by the availablilty of new movies on DVD and VHS Format. Game is no diffrent. It looks like a game. It plays like a game, wow this must be another game!
It's highly unlikely the PS3 will Fail due to blu-ray, and every article and speculation (since there is NOTHING ELSE but speculation) I've read indicates Blu-Ray costs will most likely get eaten by Sony, akin to DVD drives in the PS2 Release. Sony can build most of the parts for their consoles in house via their own manufacturing plants further reducing the costs.
Anything is possible, but its pretty unlikely the PS3 will fail. Many thought the market would not support 3 Mainstream consoles when Xbox Came out, but its proven it can, and looks to continue that trend.