Lol, they haven't been that since the days of the Genesis.(and even then it's debatable, as companies like capcom and konami were still very strong then)
They seemed to own the early 16bit period from about 89-92. Although my favorite Genesis game was toss up between GhoulsnGhosts and Revenge Of Shinobi. Still, they had the in house talent to put down years of PC-engine developement quite easily. I think alot of the popularity of Genesis in the west was due to many talented programmmers already famililar with getting the most out of the motorola 68000 from the Amiga and Atari ST days.
Why they haven't brought back Alex Kidd, or Streets of Rage I'll never know.