I saw this on a different forum and while it was a Nintendo fan site, they raised a point that I thought was very interesting, which is that ten years ago Nintendo was failing so badly with the Wii U that their going third party wasn't just demanded from the rest of the industry but basically treated as a given. Ten years later we have ended up not only with Nintendo at the strongest it has ever been, but also the only true first party while both Xbox and PlayStation have gone third party to varying degrees (Xbox releases every game on PC, and some also on PlayStation and Switch, several major ones are even released on other platforms day one and often even before Xbox. PlayStation releases live service games on PC day one and also late ports of most of their major single player games and IP. They also release some games on rival consoles under contractual obligation, such as MLB, Lego Horizon, and Marathon with Bungie acquisition).
And in the funniest ironic twist, not only did Nintendo stay first party and exclusive while the others didn't, but games and IPs from both others have shown up on the Switch (Xbox: Minecraft, Pentiment, Grounded, Ori, Hellblade, Bethesda stuff post-acquisition; PlayStation: MLB, Lego Horizon).
How did we end up here? Nintendo managing comebacks isnt really a new thing, but how did the rest of the industry get to the point where even PlayStation and Xbox had to go third party to varying degrees, and how did Nintendo stay immune?