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Why not? Each gen is almost a self-contained dispute. Someone will screw up, someone will get things right and that's it. Of course, having the sales advantage in a previous gen helps, so you have to really be excellent to steal the market.

From my perspective, the winner is always the one who happens to be less error prone. That's the biggest factor against MS winning, they usually screw up in a lot of aspects. I believe that X360 had everything to actually win the gen, since it wasn't much more expensive than the Wii, but the RROD was a big, big PR issue. However, they can learn with the mistakes and get things right. They learned with the RROD and actually made the X1 more robust, even increasing the unit's size to put better cooling.