Consoles typically have 1/4th of mid-end PCs of the time. 6-8GB is mid end, really. The fact that you guys have 16 doesn't really mean most people have nearly that much.

RAM was cheap when the PS3 and 360 were released too, but they still ended up with a measly 512MB split between system and video RAM. At the time, 2-ish GB was around mid-end.

I expect the next gen to have 2-3 GB split between system and video RAM. We might see 4 GB, but that's pushing it.