The Market is Dynamic, it will adjust to any of the 3 going.
Microsoft is the most anti-consumer, at least from what I've seen since the OG

However, With everyone panicking about the oncoming market shrink and a possible gaming crash, Xbox leaving would have terrible ramifications.
Rather than simply competition, More manufacturers increase the market share as a whole, that's why regardless of the ps4 sales, if Xb1 and Wii U don't pick it up, then the market will shrink and the whole industry will have to downsize as a result.

I think the OP is secretly trying to get the fanboys to see that the competing console is not so bad after all. We now have 12 pages of competition is good. Well done!

No competition = Monopoly

Eg: Apple [06-11]

XBox has been bad for all gamers except FPS fans. Before Halo we had good FPS games (goldeneye, pd, etc) but many other genres were thriving. Now most other genres are shadow of what they used to be and we are stuck with CoD, Battlefield, Titanfall, Killzone etc, being the genres were are forced to play for AAA experience. Thank god Sony still invest in other genres so we get to play games like infamous, the order 1866, etc. I bet if the market went back to its previous diversity it would be better for everyone. Thanks Xbox.

Uncharted, LBP to add a few NON FPS games Sony is doing 1st party. Oh ya of Course Gan Tourismo too.

If it was Microsoft alone with Nintendo there would be far fewer IP's. Sony pushes Microsoft to their limit and they arent even a creative company.

i no right i mean if only M$ would inve$t in those genres i mean whens the last time they invested in an open world game or a 3rd person action game.

I agree the industry would be better off if it was Sony and Nintendo, but Nintendo being free to return to their 90s form and not having to chase fat soccer moms with gimmicks, which is a result of the hardcore console biz becoming too crowded with MS entering the fold.

Lets be honest too -- MS doesn't need the money from the game business. They make plenty in other ways, Sony and Nintendo need the money from the game industry.

Competition = Quality.

Remove Microsoft, and Sony won't work so hard to make good first party games. Compare PS3's 1st party exclusives to PS1/2's, they are a lot better.

Sure the PS1/N64 era was pretty good, but Nintendo was more competetive then with the core.

Yeah because we all want the arrogant sony back