It ain't indeed, most especially at the time of the PS3's first release. They invested so much into high-end tech at the time, i.e. an oddball PowerPC-based-but-still-an-arse architecture, a GPU based on the 7800GTX core, and of course BluRay thrown into the mix. Microsoft used conventional DVDs besides the ill-fated HD-DVD (via an external drive) on their 360, but it was at the cost of using more discs for complex games like L.A. Noire, Max Payne 3 and of course GTA V. The multiple disc problem wasn't that much of an issue though, unlike the N64 before when developers are severely constrained with expensive cartridges, and making a two-cart game isn't entirely feasible at all.
And yeah, both DVDA and SACD never seemed to have taken off unlike the legacy Red Book format dating from the early 80s. Americans basically snubbed VCD in favour of the higher-quality DVD format, and yet we're yet to see the higher-def audio disc formats being given a chance despite optical formats getting cheaper over time. I don't mind a 128kbps MP3 myself as my sense of hearing isn't as fine-tuned anyway, but anything clearer than what we're spoon-fed with would be a welcome change.