Sony lost more money because they needed to keep the console going on for years. A garbage console that costed them insane 800 USD to manufacture. The irony is: With such cost per united produced PS3 would generate massive losses even if the launch was a huge success. How has it ever passed for C level still beyond me. But anyways...
Nintendo dropped the Wii U rather quickly. Courtesy of PSVita bombing, which gave a lot of leeway for launching their hybrid console aligned with the moment where 3DS was starting to lose steam
If PS Vita was as popular as PSP 3DS market share would be eroded and Japan market would not turn into Nintendo playground. This alone would have impacted Switch launch, negatively
I sometimes wonder whether Nintendo would follow Sony path and keep eating losses for many years to delay Switch until the right moment (enough top tier games ready for launching, as well as hardware development completely well done) or if they would accelerate a 3DS successor at risky of failing to deliver their best games at launch.
Regardless, I wouldn't say market punished Sony, because honestly there wasn't much to punish. PS3 was a very good platform and with most of the genre defining games amd the high sales are just a reflection of its library. We can't say the same of Wii U, it was a very week console all around
Launch price was detrimental but majority of people simply don't buy at launch. At the middle of its life PS3 was more affordable thus it was viewed as a normal console.
A similar comparison to be made should be 3DS. The launch price was big but once it got a price cut things were already sorted out
