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Shiken said:

The PS5 will likely sell less than the PS4 lifetime, and by default less than Switch. The XBox brand has a good chance to get some of the market share they lost with the XSX/S, and they are making a lot of good choices in that regard. While I do not think it will outsell the PS5 overall, it will cut into potential overall sales.

The Switch on the otherhand will continue to sell like wildfire, as it is a good supplement to either console. Couple that with the people that main the Switch due to portability, and it will remain ahead of the PS5 relatively easy.

One of the most important things for console is its consistency with software library. PS4 has been able to do that to an extent during its cycle and Xbox One X couldn't see itself being in the lead despite being more powerful. This determines the success. The launch sales figures for both PS5 and Xbox series X are already pointing towards the success of consoles from their previous gen respectively. 

"The XBox brand has a good chance to get some of the market share they lost with the XSX/S"

The Xbox brand might even struggle to keep up the market share it had with the previous generation. You cannot ignore this factor and this applies to both consoles. The covid phase could actually challenge most studios to put out the AAA titles on time. The switch will definitely go bonkers this holiday and could reach its final peak in the wake of next gen consoles and would be on a decline soon after, solely relying on first party software titles and existing user-base.