Nope. Take 1 example, the PS3. It lost money in 2007 & 2008, but became profitable in 2009. They sold 16 million PS3's in 2007 and 2008 out of a total 87 million. So approximately 20% of PS3's were sold at a loss.

And the PS3 is perhaps the console that was sold at the biggest loss at the beginning due to the horrendously expensive Cell chip.

It's kind of moot, anyways. The discussion is about the consoles of 2026 competing against Steam Machine. The PS5, Xbox Series X|S and Switch 2 are all currently being sold for positive margin.