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It's hard to say when PS3 will finally die out. I think there are some that are still making the transition to next gen, but I think other gamers can only wait so long for those people. It also depends on the want for PS3 exclusives, and how big its game collection is. The PS2 took a long time to finally die out, so we'll see what happens with the PS3. The thing is, the PS2 had an enormous game collection, and I'm not so sure the PS3 had as large of a library.
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Old consoles dying out aren't uncommon; that's just the eventuality of having a generation-based console release system. The PS3 will become a thing of the past, and so will the Xbox 360, as long as the next console generation is always around the corner. The graphics of it's generation still remain unimpressive as numerous downgrades to next-gen games still supported on these old system are implemented. Out with the old, in with the new is always going to be the same trend. I think I'll leave a relevant video down below to also bring up some points about "next-next" get since it's probably important for the thread.
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I don't think it will become a thing of the past just yet. Sure the PS4 is already out, but I doubt that will stop people from gaming on the PS3. We're still gaming on consoles that are 10+ years old so I don't really think a console necessarily ever really becomes a thing of the past.
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