People have been saying this at least since the Gamecube era and Nintendo was already over a century old by that point. People also said that the PS2 would sink

People have been saying this at least since the Gamecube era and Nintendo was already over a century old by that point. People also said that the PS2 would sink Sony because of the rocky launch and the myriad production issues they faced in the first year. And that Microsoft didn't understand this industry and that the Xbox would be a brief sojourn into it. Suffice it to say, gamers tend to have poor crystal balls.