GameCube was a year too late to market, which sucks because the hardware itself was actually ready to go for 2000, but Nintendo didn't have games ready.
Which is a shame because the PS2 actually was a fairly poorly made system that caused a lot of dev headaches, Nintendo could have taken advantage of this, but they gave Sony a 12-18 month headstart in all regions, which allowed Sony to build a large userbase and by then it was basically game over.
Then Nintendo basically decided they would make 8-9 other unforced errors to lose to Microsoft on top of that for good measure (lets make a cel shaded Zelda game, lets make a Mario on vacation game with only tropical levels, lets make the system purple, lets say no to DVD playback and online play, etc. etc.).
This is like losing a tennis game but not really losing to your opponent, just losing on your own errors.
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