My impression was that he was critical of the Cell itself, that from a gaming perspective it's here for this generation then that may well be it for its future applications, whereas the 360 uses common hardware similar to that of PCs so most people already know how to use it and will take that knowledge with them to future hardware that will be around a lot longer. Valve do tend to work to long time scales, with Half-Life 2 and Team Fortress 2 essentially being in development since their first incarnation was completed, so perhaps his thinking is that anything for the PC or 360 can be easily adapted to future hardware, whereas a Playstation 4 with potentially radically different hardware could make all their PS3 progress redundant before they were even halfway through development. It's not necessarily a valid reason to hate the PS3 though.
I think Newell's a PC fan first and foremost, so perhaps it's mainly stemming from a resentment of the popularity of consoles right now, that they're too big a market to be ignored. In that respect porting to the 360 is fairly straightforward so not too much of a hassle for them, whereas the PS3 is awkward by comparison, hence farming the port out to EA. Being independent and successful does also mean that Newell probably doesn't care what anybody thinks of him, which is why he's often so vocal and so negative.
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