I think it depends on how Xbox does, and maybe how their xCloud streaming thing evolves.
Right off the bat PS5 is entering a market where Switch is blowing away everything that has ever existed other than DS. So that is a very different situation than entering the market with a botched Xbox launch and a failed Nintendo system. Switch doesn't compete like super directly with Xbox and PS5 but still a lot of those gamers overlap which means that's money that has to be shared between Switch and one of the other two. Now maybe that just takes away PS5 games but doesn't do much to hardware sales, I dunno. But either way PS5 is launching into a much more competitive market than PS4 launched into.
As long as Sony doesn't botch something like a super high price or if Microsoft doesn't do something amazing PS5 should sell above 100 million again, though I doubt it'll do PS4 numbers unless Xbox really fades. PS4 got over 3 years with a stranglehold on the market, PS5 might only lead sales for two or three years during the next Nintendo transition and likely won't dominate any years except perhaps Switch's final full year.
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