Doubt it since most of the games would have been made for the n64 and the gaming industry would still continue to grow regardless since the reason the n64 did so bad was due to the ps1. And i think MS would have entered regardless since they would see the sales of the n64 and also realize that they could do things better so I doubt anything would have drastically changed
PC Specs: CPU: 7800X3D || GPU: Strix 4090 || RAM: 32GB DDR5 6000 || Main SSD: WD 2TB SN850