As of now they certainly do. Losing (but not last place losing) brings out the better in them.
Frequent and meaningful updates, terrific big name games (not on PS4) at launch and 2014, unbundling Kinect, making the console cheaper and value oriented with great bundles. EDIT: Can't forget the free ODST to all Halo MCC early adopters. That was nice.
As opposed to Sony which so far is being kinda lazy with PS4 system updates, made PSN mandatory for multiplayer, PS Now prices are kinda taking advantage, bundles that don't actually save you money and even drive up PS4s cost ($450) with LOUR (that allready made Sony profit), a lack of quality AAA hits since launch, and a general complacency due to being the sales winner (because why try when you allready won).
Point being, Sony was playing catch-up last gen and won gamers hearts. Now MS is doing the same. Losing does that.
Xbox: Best hardware, Game Pass best value, best BC, more 1st party genres and multiplayer titles.