It's Blockbuster vs Netflix all over again.
Sure, you can still buy Blu-Rays from some stores, but the big bucks comes from Netflix and streaming platforms. Microsoft has already partnered with Sony for a cloud future (most likely present now) and Nintendo's strategy was betting hard on hardware to make them "uniques".
Mark my words: by the end of this generation, the terms "exclusive" will mean "xbox platform only" or "Sony platform only" (regardless of the device, whether it's PS5, PC, XSX or XSS, cellphone, tablet, TV, etc.).
You may not like it, heck, even abhor it, but cloud gaming is here to stay (specially now that 5G is being deployed all around the world).
Games aren't movies or music. Every company that has approached games as if they were has failed.