The consoles came out November 2006 for the ps3 and November 2005 for the Xbox 360. The components put inside each console was higher than any normal consumer could have picked up for years and actually built (including the ridiculous price for just a Blu-ray player).
That's not true, PS3 and 360 were roughly as powerful as a mid-range PC at the time they launched... this was back when the leap from one generation to the next was 45%+ in performance gains... Had they been PCs they would have been mid-range the launch year, slow the year after, irrelevant the year after and by 2010 borderline useless. (the GPU in an XBox 360 is roughly as fast as a nVidia 7800GT)
Yes the companies obviously get the hardware for cheaper than a normal consumer would, but these machines still contain nice new components that while may not be an i7 or a fx 8350, but it's still a fancy processor with good video specs, wireless built in, Blu-ray drives. They may get close to even, but they certainly are not making profits from consoles, the money comes from game sales.
The CPU in the new consoles is horrible... yes it has 8 cores but we're talking about the pile driver architecture as featured in one of AMD's APUs. They are slow at 3-4GHz and the chip in the consoles is sub 2GHz. The single threaded performance of these systems is going to lie somewhere between pathetic and laughably bad.