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With so few making consoles from the 2000s onward, I have to say it's 40% compete but 60% complement.
I knew tons of people who had at least two consoles during the 7th Generation. And having a Switch and Xbox or Switch and PlayStation is pretty common.
The Big 3 have different targets that allows them to complement each other if you mix and match two or get all 3. Admittedly, Xbox's relevance as a console is burning out quite noticeably, but a lot of that started with Xbox One and I can't just blame Xbox Series for it.
PS3 and Xbox 360 complement each other quite well. Get the exclusives and Sony games on PS3 while getting most multiplats, Microsoft games, and exclusives on 360. Xbox One and PS4 was more redundant and Series and PS5 is super redundant most of the time unless you're invested in the Xbox ecosystem.



Lifetime Sales Predictions 

Switch: 161 million (was 73 million, then 96 million, then 113 million, then 125 million, then 144 million, then 151 million, then 156 million)

PS5: 115 million (was 105 million) Xbox Series S/X: 40 million (was 60 million, then 67 million, then 57 million. then 48 million)

PS4: 120 mil (was 100 then 130 million, then 122 million) Xbox One: 51 mil (was 50 then 55 mil)

3DS: 75.5 mil (was 73, then 77 million)

"Let go your earthly tether, enter the void, empty and become wind." - Guru Laghima