Funny that you used that symbol, as it would have been a fantastically bad choice for clarity in product naming. I'm going to assume that you're German speaking and think of it as meaning "average".

In my head it would have been the "Playstation Island", while for most of the world it would probably have been the "Playstation Empty Set".

Not as fantastically bad as “Xbox One” though.

You mean the X-bone?

Playstation half-diminished, a.k.a Playstation mi7(b5)/"minor seven flat five"

Fortunately while Squarenix is still important to Playtstation (and Tetsuya Nomura to Squarenix), it's not the juggernaut it once was in the early 2000.

(for those who don't get it: Tetsuya Nomura is a director at Squarenix and known (amongst other) for its Kingdom Heart series who ends up with word salad title such as "Kingdom Hearts HD 2.8 Final Chapter Prologue" or "Kingdom Hearts 358/2 Days")