Mobile games thus far can be placed into one of two categories:
A: Ports of obsolete PC/Console games with terrible control schemes.
B: Casual games.
The last time around, Sony tried to position itself as the platform for hardcore gamers. It appears that they are doing the same thing with the PS4. Hardcore gamers only play casual games either when they are away from home, or when they don't have time to play on their platform of choice. I'm not sure who technically won between Sony and MS, but it wasn't a landslide victory.
Don't get me wrong, casual games are great. Nintendo, Apple and Google have proven that there is a huge market for casual games, and it probably has a larger market than there is for hardcore gaming, I don't really know. Even if it is, that doesn't necessarily mean that traditional gaming is going to die.