The lethal threat to fully unlocked consoles with no contractual limits ruled out by law isn't other stores or even piracy. It's people realizing that if they're selling the hardware at a loss, it'll likely be the most cost efficient GPU compute you can buy. This isn't supposition, it happened with the PS3:
https://www.theverge.com/2019/12/3/20984028/playstation-supe...