So many people writing Google's unannounced console off before this new gen has even started! I hate Google as a company but the next gen of console gaming is extremely unpredictable right now.
Nintendo: Doesn't really have any major competitors (except Sony when it comes to Japanese games, which it looks like they'll be successfully courting) so the question is, can it keep up the current sales or will it be the next Wii and be irrelevant in a few years?
Sony: Yes they are the current king of console gaming. As they were in the PS2 era, and were not for most of the PS3 era. People seem to forget just how retarded Sony's gaming division was for about half of that console generation. They were only barely able to inch past the 360 lifetime sales due to 1) higher sales abroad, 2) Free online gaming (which they no longer offer and instead are the most costly and arguably don't even give you as much as their competitor) 3) PS3 didn't have a red ring of death problem the 360 was notorious for. If Sony is smart, they'll have a massive advantage going into the next gen, but considering their recent censorious nature regarding Japanese games that no one asked for, and their initial pushback on crossplay which everyone was asking for, I'm just sitting here waiting for their next blunder. Microsoft did it this gen, Sony could easily be next. And if they get greedy/arrogant enough to make another system for 599 US dollars....(or even $500 for that matter).
Microsoft: If there's another Xbox One as a TV/Non-gaming box debacle, they are done. If not, and their first party games are numerous and worthwhile, it'll all depend on how great or poorly their competition do. People forget that there's still a base that prefer the Xbox brand, especially when it comes to online gaming, but....
Google: That controller looks abysmal but if that's not the end result, there's so much potential for a Google console. Will the online be free (and of exceptional quality)? If yes, then it already has an edge on everyone (which they should do if they're smart). I would think their online service would be top notch, they've already courted some third party support, and getting Sega exclusives or other serious new IPs as exclusives could make or break it. And this is all assuming the specs are comparable to Sony and Micro's. Will it outperform? Will be the pricing be the same, higher or less?
Google also has one MASSIVE strength over any of it's competition: they can pump as much God damn money as they want into their gaming division and still have enough money to buy a small nation. Youtube still isn't financially successful yet they've kept it going for market dominance. They could easily sell their system as a massive loss, just to hurt the competition, and play the long game. How about the competition? Sony: gaming division is the only one not on the decline. Nintendo: They have a great deal of money in the bank but they're also very conservative in their spending (and they're not really a direct competitor). Microsoft: It's hard to tell just how willing they are to give the Xbox brand another go. If next gen is a bust, this could be their exit from the console market, even though Microsoft as a company has no shortage of funding.
Finally, what if Google decides to fuck with their search and Youtube algorithm to promote their system and de-prioritize Playstation, Xbox and Nintendo? This alone could make such a massive difference that legislators might get involved (though that could easily backfire and result in them taking Google's side).
I didn't get to read all of the comments so my apologies if much of this was already discussed, but my point is that there's a variety of ways things can go and we probably won't have a solid idea until we're closer to the next gen, but there's a great deal of strengths and flaws of each company that I feel people are overlooking.
The good news is, next gen will (probably) be great for consumers thanks to the abundance of competition.