Games or hardware? If something drastic did happen, they would just sell off their game studios to other publishers and then those same developers would still be making the games you like to play today. They would just make them for other platforms.
Probably not. A platform holder has reason to make games that widen their system's library but that themselves may not be enormous sellers. Publishers have no such motivation. Naughty Dog has an enormous budget not really commensurate with the sales of their titles, because they showcase the system, for instance.