It isn't what I think, it's what their fiscal reports say and what is also shown in Sony's+IDG market share graph.
It's possible because PlayStation generates more revenue selling hardware, more revenue selling software, more revenue selling accesories and more revenue selling game subs than Nintendo. And the market share is measured in percentage of revenue by IDG or Sony.
PlayStation (4+5) has more market share than Switch (1+2), yes. All four consoles are in the market and selling hardware and software and each brand reports the revenue per brand, not per specific console.
You mention "popularity" or "mindshare" when you mean your own personal taste.
I talked about market share, which means the percentage of revenue made by each company in a given market, as shown by Sony in theri fiscal report and by IDG (one of the main gaming market analyst firms).
And revenue is one of the most important KPIs to analyze how relevant is a company. As an example, PlayStation generates almost 3x the revenue compared to Nintendo so it's easy to see there that it's laughable to claim Nintendo has more 'popularity' or 'mindshare'. If you don't like revenue, you can also see that PS4+PS5 sold more units than Switch 1+2, or that PS has in just a month (December) almost the same active userbase that Nintendo has in during an entire year.