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It can.

While taking some marketshare away from Sony is a necessity, I feel wether or not the series S can sell enough as a secondary console to owners of a PS5 and/or Switch will be the determining factor.

It's selling better than the One and 360 and while it's almost certainly going to outsell the One, I also can't see it taking enough of Sony's marketshare away to go past 80 million, let alone 90 without expanding with the S as mentioned above.

I think it'll sell 70-80. A substantial improvement but not quite 360 levels.