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In the scenario that xbox leaves the market, yes. Wii U would benefit from it. It would ciment its position as the console for those that dont want the ps4 or want something more.
3rd party developers would be forced to review their strategies and multi plats would probably be more common. 3rd parties cant afford to put all their cards on Sony cause that would put Sony in a gigantic position of power. Overall it would dominate ofc.

In the scenario that xbox simply sells as much as the first one, little will change... except microsoft would be losing rivers of money again.