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I honestly think it's due to different audiences these companies are targeting,,,,,nintendo is exploring audiences that Sony/Microsoft had no intention of (or didn't think about) exploring it.

for example ,Honda is exploring different market audience than say jeep ,despite both being cars.( jeep does not consider Honda as a direct competition ,,,, one is considered bt people who have fuel effiecieny on their mind and the other one is considered by poeple who want an off-road/large car)