My intuition tells me that Nintendo and Microsoft will dominated the market this generation.

And Sony is going to try to stop the GamePass at all costs. Right now, Microsoft can only offer it on XBox and on PC. Neither Nintendo or Sony will allow Microsoft to add their GamePass on their ecosystem, else they would eat their software sales in their own platform. On PC they will have to deal with tons of competition from regular storefronts and other digital renting services, but on XBox they have the whole cake for themselves. They need to expand their XBox userbase to maximize the profits of the GamePass.

With the EA deal, now Bethesda, and maybe one day WB, I see the following happen:
Sony wins Europe.
Nintendo wins Asia.
Microsoft wins USA.
Sony and Microsoft close in worldwide sales with Nintendo winning slightly (during that 5-6 year cycle window).

1.  Just have to say there was only one successful home console in Generation 7, the Wii.  Sony and Microsoft both posted huge losses from their gaming divisions throughout the generation while Nintendo posted record profits.  Only Nintendo's system was successful and it wasn't even close (not in profits, which is the only metric that matters for a company's success).

2. The console market is definitely not stabliizing.  It is transforming quite a bit.  Nintendo and Sony are the only true competitors left in the traditional sense, and Nintendo is about to clobber Sony.  Microsoft and Google are playing a different game.  They are both trying to become the "Netflix of gaming" and they want to get their subscription services on as many platforms as possible, which might even include Switch and PS5 if they are allowed.  The Series X really doesn't even matter anymore.  It is a token piece of hardware.  Microsoft's real focus is on Gamepass/xCloud at this point.

So there are two battles that are about to happen: Nintendo vs. Sony and Microsoft vs. Google.  But Microsoft and Google are going to try their best to get on every piece of hardware they can including Switch and PS5.  The console market is changing a lot.

I do think Bethesda will balance things for Microsoft at least if they don't ruin it, but with the amount of titles they have it's insane

It will still be Sony and Nintendo's market for the next year at least. Switch sales won't significantly drop until 2022 or 2023. PS5 will surely start stronger out of the gate than the Xbox Series X.

Lol at multiple market leaders. Its ok guys, Sony lost. Switch is set to sell more consoles in a year than anything else besides DS. This is no 3 way tie, Nintendo is simply the biggest global brand.

Microsoft has 21% market share. I need a lot more than loud people on the internet to show me that the industry is anything other than Nintendo and Sony slanted.

I do agree that would be a massive power play on Microsoft's part if they were to make all future installments of Doom, Fallout, Wolfenstein, etc. XBox exclusives.  But, will they really do that is the question.  I know they mentioned that titles not already in development for multiplatform would be handled on a case by case basis.  But, we have already seen Microsoft release further iterations of Minecraft as multiplatform games after buying Mojang.  If those titles remain multiplatform, not much really changes in the console landscape, outside of Microsoft being able to put those studios to work on potential new IP exclusive to XBox.  I guess we'll have to wait and see how much leverage this acquisition has in terms of hardware sales.

I'm not gonna sit here and listen to anything positive about Xbox.