The PS3 (and to a similar extent, any other modern console) is very different from your typical PC. Large sections of code would need to be duplicated and then re-written for the different platform. With the pace of LFS development already intolerably slow (for many), this really doesn't seem like a good idea.
Not to mention that console releases could only be made of the final, finished product, having been approved by the hardware manufacturer than the product is of a suitable quality to be released on their hardware, etc.