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It's the same story since forever!

2000: "Are mobile phones with games killing Nintendo?"

2004: "Will the PSP kill Nintendo?"

2010: "Will mobile gaming kill Nintendo?"

2020: "Will cloud gaming kill Nintendo?"

Bonus (1985-2020): "Should Nintendo go third party?" 

What I find funny about this is that we hardly ever think these changes are going to affect the other guys in the business. Nintendo is the longest lasting console manufacturer ever and yet we act like they are this fragile flower that could be burst into pieces by every little change in the market. Meanwhile, Sony and Microsoft are not only trapped in a resource-war but they are the ones dependent on the very games that are available on these streaming services. If anything, Nintendo is going to profit from this development as they are the only console manufacturer whose type of system-selling titles don't get commoditised right now. 

Microsoft is getting fierce competition for GamePass in the form of Amazon. Sony is facing fierce competition as well because some people will ask themselves why they should invest 500$ in a PS5 if they will soon be able to play the AAA third party games that sell Xbox and PS consoles for a cheap monthly fee... but here we are, talking about Nintendo being affected by this.