False.
Nintendo is not competing with Sony, totally different markets. Playstation is basically a stop gap before moving on to PC.
Xbox is positioning itself to be the transition from console to PC which everyone expected since they got into the market. The cloud will bridge that gap, they will dominate in their lane. Nintendo will continue being Nintendo with or without a cloud (but they'll adapt) and you are seeing this already with Nintendo titles now on smart phones.
Sony doesn't have really any exclusives that matter. They don't create genres n shyt, they ain't Nintendo so their future is more uncertain. Joining xbox proves they didn't plan for the future. I expect a possible merger by next gen. A cloud powered console that plays everything...