Even when the next-gen format war hasn't officially started yet - even Sony has released some Blu-Ray players in Japan - the next-next-gen formats are starting to squeeze through the cracks.
Maxell has announced that it will ship holographic storage systems late-2006, the format itself is being developed by InPhase Technologies, and the disc has specs of 300gig capacity and 20MB/s transfer rate - with theoretical storage of 1.6TB and transfer rate of 120MB/s says InPhase.
InPhase Tech isn't the only one developing a holographic disc, HDV alliance with their HVD disc developed by Optware with theoretical capacity of 1TB and transfer rate of whopping 1 GB/s is also looking for a piece of the action.
Whenever I start worrying about format wars, I reflect on the fact that, in five to ten years, none of this will really matter.
You are absolutely right, but my take on this is the technology, I don't care about the format wars, sure consumers lose money on it, and it's generally the most stupidest thing to do. But as long as there is competition there are going to be format war of somekind.