Maybe... but I saw recently that the PS4 is outselling the Xbox One two-to-one. I'm not on top of that world enough to know all the reasons why, but the "ring of death" could be one.
Microsoft badly bungled the launch of the XBox One by making several unpopular decisions, including non-resellable games and others I can't recall. Sony's announcement was a few days later and they basically said "the PS4 will be are doing the opposite of everything that Xbone is". Microsoft backtracked later, but the Xbone was tainted and the mindshare battle was already lost.
After having had my original XBox fail once and XBox 360 needing to be replaced three times, and eventually still dying, with Microsoft refusing to replace the third, I switched to PS3, and now PS4.
