Its simply the best fit (jaguar is). The devs also said that over 8 cores introduces scaling issues. Carmack said that given the same power he would always take that power on fewer cores. Also the fact that 12 or 16 core jaguar would blow the cpu tdp budget (4 x 4 core jaguar @ 25 watts = 100 watts).
The devs and sony basically had a choice. Intel was too expensive (though if they could they would go with intel at the same price any day--better perf/watt). Piledriver was expensive and quite power hungry. If they were going to go with an apu design then jaguar and gcn are on a much similar node compared to gcn and piledriver decreasing r and d costs. The four core chips that were available were either too weak or too expensive or problematic.
Sony got burned last cycle with a console that was too expensive. They don't want to make that same mistake.
I always like the analysis made a posteriori. Everyone now is able to explain why jaguar, still nobody did years ago when game developers started to design the PS4.
I did read many analysis, a priori, affirming us that neither the PS4 nor the next Xbox would use AMD technology. It was "common sense" they said then.
How about we wait for richland to be tested before making claims about it?
Seems a good advice, and it would be fine if everyone follows it... but I am sure that the lack of data will not be an impediment for lots of posters to claim how bad Richland, Jaguar, Steamroller... will be.