The console game industry, of course, won't let anyone to make games for the consoles unless there is profit involved for the console makers. Therefore, they create a huge chasm between the publishing houses and amateur developers.
The big shame is, of course, that homebrew developers don't have much of a chance to get their games published on game consoles. But it also gives us a rather interesting obstacle: There are no ports of open source games for consoles, unless you happen to run Linux or something on the consoles, legitimately ported or not.
So, I'd just wish some big game companies, with "legitimate" console devkits and some financial muscle, could just pick up some of the open source projects, port them to consoles, and make ordinary releases out of them, without any hassle usually associated with running homebrew titles.
Here are some of my favorite projects that might be cool on consoles.
Let's start from the obvious end: Stepmania ought to kick butt on consoles. The only platform with proper dance games these days is Playstation 2, and I'd be dying to get a GameCube dance game. Also, if Stepmania could be ported, and the code would be given back to Stepmania developers, that might mean there would be more cheap releases of dance game collections - game houses could license a bunch of songs from the record companies, do moves for them, and release them, without paying much for game development.
Another project which we'll probably never see, but we can still hope: Something similar to Cube for N-Gage or Nintendo DS. Here we have a game that is almost perfect to run on "low end" (portable) platforms (well, it might be needed to trim down the details quite a bit, but it's theoretically doable, see Yeti3D), is actually fun to play, and would work wonderfully in Bluetooth-style environment. It might be a perfect portable multi-player game.
Or how about The Ur-Quan Masters? I know it's an old game, but it's still a great game by all standards. The only console it was ever released for was the freaking 3DO. Super-Melee for GameCube! Please!