Without Playstation, would the industry be in another crisis?

[SamLeheny]

Could be.
The main pressure to reverse their horrible... HORRIBLE drm policy on XboxOne was the fact that Sony were right on the other side of the street, offering a near identical experience minus the bullshit.
Were that competition not there, we can only speculate if the public outcry would still have been enough to make them change their mind. They might have thought to themselves "It's us or nobody. Bend to out will, or go buy a Wii U *evil scoff*"

And we can also only speculate if people would have caved in. What's the alternative? A PC? I love my gaming PC, but they're prohibitively expensive, require some technical know-how to get them set up and even more to play them in your living room. Basic stuff to us maybe, but to the layman? Perhaps not.
Wii U? Well shit, without PS4, might the Wii U be getting more third party support? Might it have succeeded in becoming a proper competitor to the XboxOne without the PS4 around to offer up the more palatable dichotomy of Sony vs MS?

Who can say. Too many variables.
But assuming the absence of PS4 in this hypothetical universe was the only difference, maybe there would have been a crash by now.
But realistically, things would have played out very differently by now, guided by forces who don't want there to be a crash. Stupid, short minded forces mind you.
Fuck I don't know! Maybe! Alright? Maybe!