It's definitely interesting thinking about what might have happened in certain situations without the success of the Wii.
Without a cheap competitor selling consoles by the bucketload, would Sony and Microsoft have felt the need to cut prices at the same points in time in an attempt to counter? It's doubtful, in fact I'd imagine the 360 and PS3 would be more expensive than they are right now, which in turn probably wouldn't lead to the same level of sales they currently have. Of course it's also possible that they'd be in a price cut war with each other, which may have stopped at least one of them from seeing profit this gen given the massive losses that they were making early on.
Kinect and Move wouldn't have happened, you can say that easily. Sony may have been working on Move for a few years in the PS2 era but it was practically shelved until the success of the Wii, and Kinect was Microsoft doing what they did when they entered the industry to begin with, it was all about trying to take business from someone else.
It's also easy to say that the overall quality of the Wii's library would improve because it wouldn't have had the masses of shovelware that the market leader gets, although Nintendo themselves may have focused more on the handheld market.
More importantly, Pachter may have gotten the WiiHD he's so desperately desired...
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