I don't think game wise a monopoly would be bad but for technology advancement it would. Why spend millions and innovate when you are the clear dominant force? People will buy your console anyway so no need to change anything.
That's where competition does it's work. Sony got lazy during PS3 era thinking that people would get two jobs to buy the PS3. They lost tremendous market share for being cocky and look where this lead them... they released the PS4, they added 4 more gigs of ram and stayed competitive to the others. Now thanks to not being the market leader they had to improve, build a console that is both dev friendly and consumer friendly.
Microsoft got too confident with 360 and this lead them to making bad decisions. Now they have to work way more to stay competitive... ummm just like Sony had to do to stay competitive with PS3.
Even Nintendo, the market leader during SNES era they thought they would still reign with a console that couldn't follow technology.
Some of you should start to realise companies are not there to please you but to make money. The only reason they try to get better is so they make more money and a good fierce competition prevents them from being too comfortable so they try hard to get better... I hope there is always good competition.
