Microsoft certainly has one major advantage, the only advantage that matters really, over Sony and Nintendo, and that's money. Microsoft is a trillion dollar company, while Sony does not even make the top 50. (I'm unsure about Nintendo.) If they wanted, assuming Amazon or Google don't get them first, I can certainly see Microsoft eventually purchasing studios such as CD Projekt Red, Rockstar, among many others.
It's a good move on both Microsoft's and Bethesda's parts though. I can only see a beneficial outcome coming from this, if it's that noticeable at all. We might just end up with another Minecraft situation.