I don't think we'll see a casual uprising in successive generations. If we exclude a significant portion of that market as being content with their Wii and unlikely to upgrade, then I see the remainder of the home console market as being spread out among the next gen offerings. On a week-to-week basis, I don't think the difference is going to be that great. Even lifetime sales will probably be close; even though the Wii U started first, it will likely be the first to be phased out.
That being said, I feel like Microsoft is the only one with a shot at "domination". They have the resources and the financial ability to advance an innovative product at a loss with the idea that it will generate revenue in other ways. They can make a loss-leading investment without blinking. Of course, they would have to find an innovative product that resonates with the general public first and we have no idea if that's going to happen. Realistically speaking, I have a feeling that they'll release something that, like Kinect, will appeal to a North American audience far more than it does to a European or Japanese market, and thus won't actually dominate on a global scale.
But, you never know. Predicting console generations has been nearly impossible.
