Starting a channel

My buddies and I are planning to begin a YouTube channel. This Christmas, with leftover money, were planning on buying ourselves ElGato Hd Game Captures to start with. To be honest, I'm up for it, but the problem is, is it worth starting a channel with an Xbox 360 console ? Or do most people just put that In the dust and prefer viewing next gen. I always thought it could be about the content and it gave me hope and I'm planning on recording some GtA and Bf4 , etc.... and I'm not crazy about next gen and so fourth and this is why I wrote. Cause It would be a blast making videos with my pals, but it wouldn't be if we were the only ones watching it , constantly. I'm not saying I can be big, but I'm confident I can make 1,000-2,000 and that's fine with me and more, the better. And so , what do you guys think? I think it would be an honor and fun, but It can also be , just ehh. I know I may be able to keep people entertained thanks for the help

Good luck. Through competition and copyright the hardcore youtuber will prevail! Maybe if you go mainstream you can make $5/hr.

Competition is insane. Content alone doesn't cut it.
Boobies and/or personality help. An accent can be substituted for personality.

But honestly, I say go for it. Just don't get discouraged when no on views your initial content.
Don't forget to plug your stuff on your favorite social media outlet.

Maybe run a Twitch channel as well.