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Nintendo just laughed at such a thing and kept laughing all the way to the bank. Hell, they barely even went after Sega but when they did. It was a slick burn that would rival something President Trump would release on Twitter.
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Here, Nintendo went against Sega's mascot and they did it with a Game Boy ad of all things. Remember, the Game Boy was a Black & White portable and they basically said in this ad "We don't care, We can crush you with a simple sequel to a Game Boy title. You don't scare us."
And boy was Nintendo not scared of Sega for the most part. They won the console wars since they're still making systems to this day and Sega is now just a software developer.
On the gun side, Ruger and Smith & Wesson had a similar rivalry. Big Blue dominated the Law Enforcement Market and Ruger kept nipping at Smith & Wesson's heels trying to steal their market share.
Click here to see the rest of the article and the ad war between Ruger and S&W.