Final Fantasy is gone, is the PS3 dead in the water?

PSBeyond writes:

"Microsoft fired off the shot heard round the world today at their E3 press conference when it was announced that the long time Sony exclusive Final Fantasy franchise would be making its way to Microsoft's Xbox 360. The chaos that ensued from the 'Final Fantasy Exclusivity Crisis' was evident across hundreds of gaming message boards. Square-Enix was branded a turncoat and sell out. 'FailStation' doomsday proclamations were made. Hundreds of angry fanboys frantically scrawled out flames and flinged insults. This is a defining day in the 7th generation console war, there is absolutely no way denying this. However, is it possible that this announcement and its effect on the PS3 could be over exaggerated? Is Sony dead in the water, and the PS3 rendered a $400 paper weight, as some have said? "