Nah, they failed because of the Saturn which is one of the worst console flops in history. Dreamcast was just a last ditch effort to regain relevancy and beat the other guys to the punch. Too late once the PS1 was successful.

Also, Genesis was more appealing to adults. That's why it competed with the SNES so well. American adults at the time (prime aged boomers) were much more won over by Genesis's more mature marketing and appeal to American values versus Nintendo which was decidedly marketed to children.