You guys do realise that this was the console launch announcement right? E3 is where we will see the games line-ups + in-game footage.
This event wasn't designed to show the world the games, so how can you be disappointed about something that wasn't meant to happen?
There seems to be a lot of confused people on this thread.
I think most people's problems with this is the fact that they seem more concerned about getting the service features out there instead of the games. At a console reveal I want to see games for the games console, not find out it can stream Sky Go or whatever.