Alternate history: If PS1 didn't enter the race, who would have won the 5th gen, and why?

[Salnax]

To build on what I said earlier, it would be a battle of CD vs 3D. A weaker Saturn would still have been a 2D powerhouse, and would have had all of those benefits of the CD-ROM. But the industry in general was largely pushing towards 3D graphics and gameplay, which was where the N64 was much better off.

I could easily see there ending up with a very strict demarcation by genre. So if you preferred 2D fighters, you'd basically have to get a Saturn, whereas for 3D platformers, it's be N64 or bust.