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For Sony, remove online paywall or at least improve the perks, abandon making portable consoles in the future (I don't think they can get any lower there), more 3rd party exclusives (just like the PS2 days) and that's as ideal as their going to get realistically speaking ...

For Microsoft, start buying big third party publishers or go home, need more variety and creation of first party IPs, and drop the online paywall too ...

There's too much to say how Nintendo could improve but to make it short they absolutely need to rethink their entire strategy going forward into the near and far future or whether they can still compete in the game industry ...