Both? You don't shit out money. 

Although Wii was huge, I see sony as the leader since ps1.

Yes but can PSNow compete with MS's infrastructure worth over $15billion dollars? Yes its not all for gaming however last time I checked Gaikai cost Sony $380million.. that's a considerable difference in pricing. That's a huge chunk out of Sony's pocket if they dare to invest similar to Azure. 

Maybe in the next few years Cloud services might become cheaper for Sony to invest heavy into it or they might just rent out Amazons services.. or Azure for laughs etc.

I may be wrong but I guess Sony bought Gaikai for the tech not the servers. But you are right that they need to make serious investment if they want to be big on streaming.

Good question.But the most probable is that MS release a new console sometime after the PS5. The X is relatively new.

PSNOW doesn't need as much infrastructure as Azure, because it will be used for just gaming... And still, cloud gaming taking over as the primary is at least another 10 years away.

I love this physics defying bouncing simulator.

MS could try and launch early, but it would depend on a few things, and could hurt them even worse if they aren't careful. The fact that XB1X launched late 2017, would no doubt piss off some customers who bought one, only to find out there's a much better XB all around coming out only 2 years later. I mean, they waited a year for XB1X, so who's to say they wouldn't have waited for 'XB2' or bought a PC or Pro in the meantime? There will also be gamers who would dive right in anyway since it's new tech regardless, whether it leaves the XB1 brand behind or not.

If PS4 is still hot by next year, which it should be with a $199 price, whether PS wants it there or is forced to price it there to compete with a new XB launch, then XB needs to hope it can overshadow a cheap PS4/Pro, as well as hope that PS isn't ready to unveil a PS5 that can match or overshadow 'XB2'. I wouldn't be surprised one bit that if 'XB2' was announced to launch holiday 2019, that if PS5 is locked to launch late 2020, and PS felt 'XB2' was going to be trouble for PS5, that they would at the very least, mention that PS5 would be ready to launch whenever it would in 2020, before the new XB console ever hit store shelves.

PS could basically copy what MS did with Scorpio by announcing minor or major PS5 details slightly early to overshadow the 'XB2' launch. The main difference would be that instead of being at a disadvantage at that point like MS was, PS would be extremely strong, so as long as PS4 still had solid third party support at that time, and PS first party was still firing on all cylinders, then the odd's of having a tonne of PS4/Pro owners jump ship for 'XB2' seems unlikely. For MS to make a worthwhile performance jump from XB1X to 'XB2' by late 2019, they would need to price the new console at $499 minimum, which hasn't been a strong selling point for them, or anyone else for that matter, or take a significant hit on a $399 hardware subsidy early on. 

If PS5 were to launch with similar or stronger hardware a year later, with a $399 price point, then 'XB2' would probably end up in a similar position to where the XB1 was early on. If you change the PS3 launch price to $399, even with somewhat weaker hardware, and see the sales it pushed at that price, the pubs and devs would have been forced to care and master the cell architecture asap, instead of being able to focus mostly on the 360. Now imagine a similar scenario, but with a much more dev friendly architecture, and you can see why PS5 shouldn't be at much of a disadvantage with a later start.

Even if MS tried to launch alongside PS5, if it launches within the 25th anniversary of PS, it's going to be a nightmare. MS can try and rain on the PS parade all they want, it's not going to make much of a difference unless they have an army of variety and quality first party exclusives ready to go, along with a $600+ console that they sell for $399. If you think PS has strong marketing in general, especially for PS4, just wait to see what they do with a 25th anniversary celebration and a PS5 launch at the same time.

Predicting isn't evidence. Predicting is an opinion.

Considering a hypothetical console from 2020 isn't on the market yet, nor is the hardware they are likely to leverage inside said consoles on the market yet for the PC... That is another baseless assertion without evidence.

There is a very very very big emphasis towards leveraging ray tracing to a higher degree, we have seen such movement from Microsoft with Direct X and nVidia RTX.
I highly suggest you start paying attention to what is happening in the PC space.

PS4 was both cheaper and more powerful than XB1, MS may have eliminated the price difference by removing the Kinect, but PS4 was still offering more power at the same price.