Ugh! That's a weak statement to deal with stupid people. Yes, people can and will get stupid, but there's no safeguard for stupidity. Maybe a lot of console gamers will be stupid with it, but that in no way rules out those that won't be stupid about it. And it in no way means Microsoft should be responsible for providing the option. Or whatever other company. At the very least there could be a middle ground of "command console friendly consoles" and "gaming consoles only" to help avoid people messing around with things they don't understand that are there.
At least try to compromise. But going "Because console gamers are idiots that can't be trusted" (and if this is the words of the companies what does it say to you console gamers out there?) and not even attempting to establish a middle ground is a lot like saying "I won't sell this gun because people can shoot themselves in the foot". I can understand why removing the temptation altogether can help, but denying it for those that wish it? No.
The bigger issue is "Will consoles be able to handle the coding". Depends on how much coding one does I guess. Adding a few stats/items? Areas? It's all down to the individual.
And I'm saying all this being a former console hater.
Regarding cheat codes. Console commands ARE used for cheat codes. It's not all they do of course (It's a very small part of what console commands do actually), but it is common for them to be used for cheats. Don't ask how I know that. *Buries his head in shame*. It's useful for testing purposes.