I agree, but that's a much different situation imo. There was more competition in the PS1 and PS2 era. Plus, they had to start off strong due to being a new entrant. Once they obliterated the competition we got the slow start of the PS3 because they most likely thought they could put it on autopilot.
I don't think anybody will enter this space, but it's still crazy saying out loud that Microsoft was in the industry for 20+ years and didn't know how carry on the momentum from 360 era. To fall off that quickly shows how incompetent they were because they pretty much had North America and was doing well in some parts of Europe, and to see it all collapse in real time is crazy. I wasn't old enough or too into console to feel the effects of Sega dropping out of the industry