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Louie_86 said:

The same, just a some time later down the line.

This. Sega's owners didn't want to make consoles even during the Genesis era, which was the one time they were truly successful. They deferred to Nakayama until he left right before the Dreamcast launched, and once he was gone, they started turning up the pressure to get out of the hardware market.

Short of them selling Sega to Microsoft so that Microsoft could market the Dreamcast, which Stolar actually wanted them to do, there wasn't any scenario where Sega stayed in the hardware market. Nintendo and Sony were simply too well-entrenched, and once you threw Microsoft into the mix, it was all over.   I just kind of wish that Isao Okawa had lived a few more years after Sega dropped out. Maybe with his ongoing support, now that they were respecting his wishes to get out of hardware, they could have been the third-party powerhouse he envisioned.