Steam is different. Steam is an online service. It didn't start that way, but Valve has basically moved itself as an online content provider. If you're buying a Steam game, you know that it'll need Steam to play.
The console market is different. People are used to being able to fire up a disc without wondering if their console is online. Obviously, you don't buy a primarily online-based game (e.g. BF3) to play offline, but other games? I mean, why would you expect to be required to be online to play Mass Effect 1 or Assassin's Creed 4 or whatever?
I think the consoles would take a hit because the internet infrastructure isn't QUITE where folks in Redmond, WA think it is nationally and internationally.
Will people accept it as how you use advanced features of games? Sure! But will they put up with games that can only be played if the console is online? No. Definitely not. Not everyone has the best connections. Some people have crappy connections just because of how their houses are laid out (e.g. wifi doesn't work so well due to brick walls and such). For folks like that, losing your gaming session because your console dropped its connection will be unacceptable.
Also, Steam is a PC platform, which is generally a more tech-savvy set of users. The console market is far broader and more diverse in terms of tech savvy.