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My viewpoint is this:

Non-competitive Generations
2, 3, 5, 6, 8 (i.e. PS4/XB1/Wii U)

Competitive Generations
4, 7, 9 (i.e. PS5/Series/Switch)

In most cases, I prefer the non-competitive generations.  This is usually because the other systems actually are trying their best to compete, but one system ends up being so amazing that it just obliterates the competition.  Sega is a great game developer, and they were trying their best to make the SMS successful, but the NES just kept releasing titles so amazing that we are still celebrating their 40th anniversary this year.  The competitive generations have good games too, but you have to buy multiple systems to enjoy most of those good games.

So, basically I prefer to just buy one piece of hardware that has almost all of the good games on it.