I didn't catch how your post related to Planned Obsolescence. The PS2 has aged better than most platforms. In fact it sold more units than the PS3 last season.
I just got myself a component cable for my old school PS2. The wide body version. Well as it turns out, the old school thing doesnt output a component signal as best I can tell.
I suspect the new slimline version does work with component cables....grrr. I'm just trying to make the PS2 look half decent on my new HDTV till Sony drops the price on the PS3 and works the kinks out.
So...If you have the old, old PS2 and want to improve the picture...component cables do not appear to be the answer.