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Nintendo never did "save" gaming, it was doing fine and growing in Japan and Europe all along, even home consoles (unless you happened to be an Atari owner). That's just an example of US-centrism that somehow seeped into public consciousness.

It's very unrealistic to believe the US would forego gaming entirely forever and ever if the NES didn't release there. Eventually the market would recover on its own, even if it's a more PC-centric one.