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In general, all three could and do learn lessons from each other. We would never have had the PlayStation wand controllers, Kinect, PlayStation All Stars, or even Breath of the Wild if these companies didn't study each other and other companies.

What could still be learned?
Nintendo could learn to have a better internet platform from Microsoft.
PlayStation could learn to have more family friendly games from Nintendo to expand their appeal to parents and young kids.
Microsoft could learn from PlayStation's ability to make stunning single player games.

And plenty more. Lots to learn for everyone.