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Episodic content has been attempted before on the PC (with limited success), but never for the larger console audience.
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El Dorado Gate says hello!
You would think a decent journalist would know to not use "never" on a subject he is not expert at.
Anyway, the business model of selling in-game goods or bonuses as side revenues for your games will be a tough one to force on the players I think. Maybe it can work on stuff like the Sims where you would be able to buy some specific pieces of furniture or some specific garnements. That is on an audience that has no pre-concieved expectations (a pleonasm I guess, but well...) of what should be the way they consume the game.
All I can tell you is that, as a consumer, when I saw I could buy weapons with credits in... Double Dragon 3? Yeah I think it was Double Dragon 3... My first thought was not "What a cool idea!", it was "What a bunch of greedy bastards!".