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sethnintendo on 07 June 2020
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Soundwave said:

They basically stole the Super Nintendo set-up which Nintendo had created and then paid off third parties to cut Sega out of the industry via money-hats.

They've stuck to that formula and don't make a lot of mistakes which then doesn't give competitors much of an opening. On the home console side, they've made basically one major mistake in 25 years in the business (Blu-Ray for PS3) and still were able to push out a more than respectable 85 million units.

The Playstation is basically the successor brand to the Super NES. They took that setup and locked competitors out of getting it back by using money-hats.

The N64 would have sold 100+ million units if Nintendo had not been stubborn and used CDs, even as a second format (there's no law that says you can't have cartridges and CDs on one system, the Saturn had both). The fact that it sold 33 million with meager developer support and long stretches of 1-2 game releases for $60-$70+ games only for months on end was insane. 

Having Blu Ray on PS3 pretty much made sure HD DVD was pushed out.  It was the cheapest Blu Ray player when the PS3 launched.  I believe most standalone Blu Ray players at the time were still 800-1000 dollars. 

I almost feel bad for the early adopters of first generation Blu Ray players because after awhile they updated Blu Ray to a new version and some of the original standalone players didn't even have a Ethernet or wifi capabilities which turned them into bricks.  PS3 of course could update and was able to play the newer discs.  Basically if you wanted to be early adopter to Blu Ray then it only made sense to buy a PS3 at the time till the standalone players became cheaper.