Sony has had every system crap out since they started. People have just come to expect it.
Actually, from what I can tell, PS3 has been rock solid for the most part. I've heard very few instances of it dying.
When it was first released out of the initial 10 we sold 8 came back defective.
PS1 died laser arm motor would burnout/lock up
PS2 died or DREd different color DVDs or CDs sheild and on DVD tray would fall off.
PSP ejected UMDs and the inner button would jame and thumbsticks fell off.
PS3 came DOA or died or in one instance lit on fire (walmart store display)
Xbox power cables shorted and were replaced(xbox put a prevention plan into effect replacing them for free), HDs died, DVD drives died(can't remember which ones i think the samsung)
360 RRoD
GCN reading laser burnouts(not very common)
Wii VERY small number arrived DOA (something wrong with the chips?) also one or more of the dloadable updates were recalled, after causing systems to lock up, fixed and rereleased.
DC same as GCN but i believe more common.
Those are the problems i have encountered first hand or have seen getting worked on in shops. PS2 issues being the most common GCN being the least.
Systems are just more complex then they were years ago so problems are more prevalent. As for wires shorting out that there is no excuse for in my mind though.
If carts were cheaper than CD/DVD based media everyone would still be using it. There is much less that can go wrong just because there are so many fewer moving parts.