Zynga's (ZNGA +2%) job cuts don't go far enough, thinks Sterne Agee's Arvind Bhatia. Whereas Zynga generated $893M in 2010 billings with a headcount of 1,483, Bhatia estimates the social gaming leader will have 2,400 employees and a $750M-$800M/year billings run rate once its layoffs are finished. Meanwhile, Pando Daily's Kevin Kelleher argues Zynga is the victim of an "attention-deficit economy" in which consumers "constantly crave the new." Moreover, "casual and mobile games remain a gamble that is better suited to small, nimble startups rather than a publicly traded giant." Will console gaming giants (EA, ATVI, TTWO) have better luck navigating this landscape?