Xbox are the very embodiment of the fact just having competition doesn't mean the customer benefits.
With the exception of the 360, and even then only up until the Kinect blew up as a passing fad, Xbox has been a detriment to gaming since day one. The effect they've had on Playstation, since they also moved their headquarters to California and started copying team greens every bad idea, being the undigested corn on top of the turd.
Nintendo and Playstation meanwhile do actually compete with one another. If you take things from the PS2, we've had every system the two put out shifting dominance in the console market back and forth between them, with the probable exception being the PS5 likely to be outsold by the Switch AND Switch 2, precisely because team Blue have started aping Xbox's retarded decisions.
Honestly, with Xbox gone and Nintendo dominating the market, Playstation will have to actually start making changes away from copying whatever bollocks Phil Spencer is spewing this month, and actually start trying to cater to the audience again, or they'll die like Xbox, especially if they keep catering to PC gamers, who will continue not giving a shit about consoles, while growing in number as more and more previous Playstation owners jump ship.
The death of Xbox is a net positive basically. The cunts buying their successes and artificially altering the course of the market, by not caring about the losses incurred through going against what gamers want, has been nothing but a cancer for the hobby.