Sega's favorite pastime has always been to throw away money and opportunities with their bad decisions. If Sega had massive cash reserves they wouldn't have been Sega.
A reminder that back then consoles swiftly got price cuts and sold most of their units at lower price points later on. Sega had great console launches but always dropped the ball when it came to the time consoles really flew off the shelves.
Let's suppose however they continued, perhaps by striking a deal with Microsoft or something to make up for the loss of EA's support. There's a very large chance that the Dreamcast 2 would've resembled the Xbox 360 a lot in both features and time of release since the OG Xbox already picked up on a lot of what Sega was working on back then. It would have seen massive success and put them in their best position since the early 1990s.
No Xbox and yes Dreamcast would also have changed Nintendo and Sony's plans in unpredictable ways beyond the GameCube and the PlayStation 2. The next Sega console would probably have looked a lot different than the Xbox One since that was mainly designed by a lot of Microsoft folks who had nothing to do with the OG Xbox or the X360.
