MMOs and consoles are hampered by poor communication tools more than anything. In game you're limited to voice communication unless you want to hook up a supported keyboard, something most console players aren't too willing to do. The chat box on the console would also take up too much premious screen space as everything on the HUD needs to be larger due to the further viewing distance your average console player is from the TV. Also on the consoles you can't just alt-tab into a web browser to go to the forums, hit up google to answer a question, or even run 3rd party chat programs like Ventrillo, Mumble, or Teamspeak. I do hope that one of those 3 apps gets a console client, I don't see a reason for any of them not to work on the PS4/Xbox One.
I don't think the controls are the real limiting factor of MMOs on consoles. Traditional MMOs in the Everquest/WoW style can't be done because they are too micro heavy on their control schemes but more modern MMOs which are reducing the skill bloat and focusing on real time combat can.
Furthermore there are console standards for a game. Console players aren't used to dealing with incomplete content. With MMOs, the launches are never really rock solid and there are always little bugs that continue to pop up for years after release. MMOs are large, unstable, and completely unpredictable beasts when it comes to software development so those things are to be expected. Console gamers aren't use to dealing with this. They are used to paying a higher premium for the game but expect that game to run without major problems on the consoles.
Games like Fallout 3/New Vegas and Skyrim last gen got absolutely blasted by the console community for being bug ridden as hell, especially on the PS3. Those bugs were minor compared to what we see in MMOs even today.
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