Even though Sony, Nintendo, and Microsoft pretty much dominate the gaming industry (as far as hardware goes, anyway) nowadays, it wasn't THAT long ago when there was far more competition around.
Panasonic delivered the 3DO and Atari released its last console, the Jaguar, during the fifth generation of game consoles, while Sega exited the scene after its Dreamcast flopped during the sixth generation.
Even today, Sega and Atari are still publishing titles, even if they are no longer creating hardware. So is there any chance that any of these companies (or another, wanting to test out the gaming console waters) could make a return with a brand new console to give Sony, Nintendo, and Microsoft some seriously unneeded competition?
To me, it would be completely unnecessary as far as the consumer is concerned. With games costing so much to develop, third-party publishers almost have to release all of their AAA titles on as many systems as possible in order to make a profit. It's not like in the past, when anyone could make a 16-bit game and simply "try again" when it failed to sell. Nowadays the risk of high-budget games flopping isscaring game publishers from taking risks altogether.
My point is, with so many third-party games already slated for release on all three platforms (PS3, Xbox 360, Wii U), a trend that pretty much started with this generation of consoles and will likely continue on indefinitely, is there even any point in Sega or Atari or anyone else joining in the console race?
Seems like it would just be dividing up the same amount of pie between four or five guys instead of three, and consumers would still simply stick with one or two consoles. Because honestly, are first-party exclusives really enough of a reason to buy every piece of hardware possible nowadays?
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