I agree. But just to argue a counterpoint:
Up until recently, every console generation was different architecture, different OS, different everything. The gaming industry does not need backwards compatibility or even a like architecture to move forward. If ARM, or anything else, starts to present a better value proposition, the games will follow very quickly.
And you could almost argue they already are: love it or hate it, mobile gaming (largely on ARM) is HUGE, and includes Nintendo right now in its camp.