I think the PS2 lasted around 10 years, but even then it overlapped with the PS3. I agree that these analysts are mostly grifters though.
There were a number of reasons they PS2 lasted 10 years.
It was the first console to play DVDs and was adopted at the time for that internationally. It was the only console to carry at 99 dollar price point for a number of years, it was backwards compatible with a PS1 and the development costs were half that of new games for current gen consoles.
Plus it had a huge library of games, so it sold well internationally at a time of a global recession.