While I have to agree that none of the aforementioned groups could make it on their own, if Nintendo pisses off all the other devs this generation, who says none of the companies could make it with everyone else's support? I mean, no one thought that Sony would make it in. We had Sega and Nintendo. Sony had foreign hardware, no first party game divisions, and all that jazz, but immediately, developers flocked to them because the Saturn was just weird and they all disliked Nintendo.
Sony entered because of the half-finished SNES-CD, but they won because of the third parties.
Microsoft has a ton of cash, yes, and they aren't making money on their games division, true, but they are attempting to use the games department to break into home entertainment media devices. To them, if their game division loses money, but they earn money by creating a strong digital distribution platform, there's no net loss. What's to say GE can't cross-promote NBC, Universal movie properties, theme parks, and other things by using a games console? If they lose money on the console, but gain more by generating interest in other things, wouldn't that be successful? Couldn't third parties choose them, too?
You're looking at only small portions of the issues that define a console race, and you're looking at them as separate pieces. You've got to look at the big picture. How many copies of Final Fantasy sold? About five million. That's likely five million people that would be on board if SE decided to create their own console. Now, as SE is known for creating cinematic games, Kojima jumps on board, along with most Konami support. After all, they already obviously don't like working with Nintendo. So then, you get the Metal Gear fans who aren't already major Square-Enix fans. Now Capcom announces that several of its titles will be cross-platform, because their money whores.
Where does that leave Nintendo? In a ton of trouble, clearly.
Of course, this is if Nintendo takes the "You're with us or you're with them." strategy. If they avoid that, and continue to be nice to third parties, hopefully SE never feels the need to create its own console. It's really hard to say that someone is too small or too separate to create a console. After all, Nintendo made cards, then toys, then video games. What's to say Mattel doesn't want back in to video games?