No one would be sitting here on this message board if that was the case as the industry would've evolved in a very different way.
NES not only popularized Nintendo games, but franchises like Final Fantasy, Megaman, Dragon Quest, Castlevania, and the companies behind those games almost certainly don't exist in the same way, nor does the modern 3rd party licensing fee set up or the modern controller which really all traces back to the NES/Famicom d-pad + B/A buttons.
Sony only got into the game business because of Nintendo, and Microsoft only got into the business because of Sony, so it's quite likely neither one would be in the dedicated console business either. They'd might be involved in the PC scene maybe and Sony might be a publisher based around their movie IPs (like Sony Imagesoft in the 90s) bu that's about it.
