This is an absolute nightmare of question to answer right now. It's like every company is screwing up in its own way right now.
Nintendo is being so arrogant right now with its prices thinking that every single person will buy their shit regardless of price. That is the same attitude Sony had right after PS2's success, and it went very bad for them. So who knows how it goes for Nintendo. It's very hard right now to even predict it, and pre-orders are not a good way to measure it. Also, don't make the mistake of thinking that those prices have anything to do with tariffs. They explicitly said they are not.
Sony is extremely stubborn chasing GaaS (and thankfully failing), to the point of not releasing a constant catalogue of games like they have always done before. They got rid of AA games which allowed them to have such a constant flow of releases, and they are also raising prices. This gen feels really boring from them, even with the few great games they've released, but maybe the point is that they are few, and in the past there were so many games.
Microsoft is just retarded. They don't know what to do, they don't know what they want, they don't know how to do whatever they come up with to do, they are completely lost this gen. Their executive team is so out of touch, they might as well be from another industry entirely. However, one thing they are extremely good at is screwing everyone else just to be the sheep. Obviously the latest example is the price increase. Gamepass is obviously loved by people who has it, but we all know it's not sustainable, and MS will not be able to buy their way to Gamepass's success for all eternity, even with all the money they have. With that said, at least some of their studios (independently from Microsoft), are doing good games right now, so they just need to become third party and focus all their energy in managing them.
The winner this gen have been- by a million miles- Third party! Specially Japanese devs/publishers. Capcom have been amazing, Square Enix made a huge recovery from their horrible PS3 gen, and started going up since PS4. Sega have also released great games, and many others.
Second place are Indies. They have also made an example of what the gaming industry NEEDS to be successful, but those huge corporations just refuse to see it and follow them. They prefer to fail (like Sony with their GaaS), than just make games that people want and people are pleased to buy!
We are in a place where any company can be either up or down by 2028. If they all continue the way they are, they all suck!
If Nintendo really is fair in pricing games, people could tolerate it, but we all know every single new release will be $80. The different prices will be very small exceptions.
Sony needs to get rid of their wet dream of GaaS and come back to do normal, fun games like they've done for 30 years. People want them to do it, but they need to see it.
Microsoft needs to just become third party and work with their studios to have a great flow of great games. That's it! There's no more need for them. They have everything to become the biggest, more successful publisher in the industry, but they would need to become like Capcom or Square Enix and do a 180.
Third parties should stay the same! More companies should copy Japanese and Indies success!