The PCE did get a bunch of Sega(arcade) ports, even if most weren't great ports.
True, there are a number of arcade ports on the PCE. However, what about original games from each system? MD got Cosmic Fantasy, LoT, GoT, sequels to splatterhouse (and not even the original... huh??), dungeon explorer, Lodoss, and others I don't even remember now. Did PCE get anything that was orginally on MD or SFC? Honestly, I don't know but it seems that franchises that started on PCE jumped ship to MD and SFC rather than the other way around.
Maybe I'm just bitter. No, I AM bitter.

Recently, I've been researching different versions of the same games to see what the differences are. Re-reading Aaron's LoT comparsion page and reading about Snatcher here sparked my interest in the subject.