Good question and has a simple answer. Look at Sega now compared to the 90's, that's the answer.
After the Dreamcast they said "the hell with this! cant be bothered with hardware anymore" But Sega was given a warning to go software only just before the Saturn and they ignored it. I think it was the CEO of Sega Europe at the time who suggested it and was kicked out the meeting and later left Sega (or was sacked) Nintendo hasn't been given that warning yet.
Sega didn't have as many well known IP's as Nintendo and when Sega releases Sonic games these days it goes unnoticed. That is their own fault to be fair and it be a shame if Nintendo did the same to Mario, Zelda or even Pokemon. Cheapens them out and devalues their IP's to other companies. Abit like if Apple officially released OSX for standard based PC's.
That said, Im soooooooooooooooooooo looking forward to Sonic Mania. After playing the demo last year, the Switch version will be on my list.
If and thats a big IF, the Switch does well for 18 months and continues to solider on you can bet Microsoft and Sony will follow up with something similar to steal the limelight.