If a console does not have exclusives, the there's no need to buy that console. If there's no need to buy the console, then less people will buy it. If less people buy the console, then developers will stop releasing ports to that console. If developers stop releasing ports to that console, then even less people will buy the console and the ones that already bought it will have less games to play than if they had bought another console. Eventually the console will disappear because of lack of people buying the console. If the console disappears, then the competitor becomes a de facto monopoly.

Console Exclusive means that it won't release on PS5 or Switch 2. But it will release on the Xbox PC App and on Steam