I think you're being rather snobbish to console gaming... Just because its on a TV where I can sit on my couch does not automatically make it an inferior, dumbed down experience. Just because a game is made in mind to hit multiple platforms, again, doesnt make it automatically dumbed down.
Actually, that is true. Games that that are on PC and consoles aren't usually "dumbed down". I guess this is due to the size of the console market, so the LCD for console gamers is going to be lower than it would be for PC gamers and the game gets changed accordingly. Take the Ghost Recon and Rainbow Six series. They've both become these "sploshun" driven games when their predecessors were anything but. Put that together with hardware and UI differences and often the game would seem to be too simplified.