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Only if they screwed themselves.

If they have good high profile exclusives, like Sony had in the last years of the PS3, even if it doesn't save the ONE it will gain them a lot of traction and goodwill for the next gen. That certainly worked for the PS4.

Games! Games! Games! Show us you lost the arrogance and go back to being the Microsoft from the first Xbox and the early years of the 360!