Hey ... it's at least being made by a company we'll have heard of, that ended up buying IBM's laptop division off them. It's got half a chance of not sucking. (Only half, because 50/50 is about as good as anyone can hope for - Sega went down after all, and other large companies such as NEC that had a go at the gaming market on previous occasions)
Though there's every likelihood that it'll be a NES clone with some kind of upgraded Power Glove to wave at it, it won't necessarily be so just because everything else coming out of China with a ripoff name and concept also is.
>> I don't think it's a good idea for 3 companies to monopolise...
Well, we're down from 4, not counting all the truly pitiful also rans and vapourwear-purveyors. Or from 7+ to 6+ if you count Apple, SNK (Wonderswan et al) and all the PC hardware manufacturers (plus MS?) as the additional "1+". Market economy, get used to it. Anyone can try and fail. If Sega - and earlier, Atari and Panasonic (and SNK again) - had tried a bit harder or simply been luckier, we may currently have a 1980s formatclash going on, with 5th-gen descendants of the Jaguar, 3DO and Neo Geo also battling it out alongside, or instead of, the present day/active reality contenders.
It's gotta be better than the PRC where it's basically one manufacturer - the state - looking after things in a lot of industries? Where a lot of people's idea of a decent computer is a NES with a keyboard (for god's sake someone make a cheap Amiga clone or embedded Pentium-MMX PC with TV-out and start selling it to those poor bastards, you'll rake it in and do good work for quality-of-life), or that strange handheld sorta-PSX-level thing that Ashens reviewed last year. This could well be a revolution, particularly if it brings a little extra money-backed competition to the west, and opens an avenue for more affordable good quality gaming and computing machinery "back there".