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There are problems with the a7R IV, no touch screen, the same old confusing menu system with confusing terminology that users find hard to understand and no lossless compressed raw or reduced sizes for raw capture. People are already complaining about its video capability and the fact that it is so small.
In my opinion Sony are doing what they always do, releasing a camera that hasn't been fully tested and using the consumer as the beta testers. When all the issues people have found whilst using it start rolling in they wont fix them they will release a newer model.
Sony are a consumer electronics company whereas Canon and Nikon specialise in cameras. I believe the Z8 when it arrive will use the a7R IV sensor (don't know how true that is) but the Z8 will be much better designed in terms of usability.
I don't think Sony are much of a threat.
The sensors in Nikon cameras are made by Sony but to Nikon specs and Nikon own the intellectual property. They are not the same as the sensors in Sony cameras.