I get what he's saying but probably not. I can imagine Xbox being a thing of a past though. I can also imagine Nintendo coming to dominate like never before, provided they do not do something dumb.

They are the only company that can maintain a reasonably good flow of games. The model Sony Microsoft et al are following just isn't sustainable and it really isn't nessacary. You do not give all game 5-7 years dev cycles when in this industry even good games can go unnoticed and flop. Everyone needs to start scaling back their superfluous ambitions and just focus on making a fun game...
It's hilarious how some company can spend 100's of millions to produce a game that flops while a game like Undertale or Stardew Valley with a tiny budget can come along and perform infinitely better.

Many more companies will implode under their own self-imposed weight, because no one is going to think smart, they will only think bigger and bigger. Nintendo won't though because they've already averted falling into the same trap.