this post was submitted on 22 Jun 2023
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Spencer went out to say that they lost the most important generation to lose (XBOX One gen, not the current one. Corrected thanks to @Boldizzle ), and that they were going back to the drawing board to turn things around. They just hiked up the prices of Game Pass and the XBOX Series X. They also basically confirmed that there won't be any mid-gen "pro" model and that they expect the next gen to come in 2028. And now their plan to buy the industry is also failing.
So what's next? I doubt they have a queue of heavy hitting first party exclusives in the oven to maintain them until 2028. I'm almost certain that they expected to buy themselves some time by acquiring studios and turning their IPs into system-seller XBOX exclusives.
It make sense. They were on par with Sony at the end of the PS3/XBOX360 era (I would say that Xbox360 dominated the first half where PS did on the second half), so they needed an strong start for the XBOX One/PS4 era, and all the drama about "always online", the anti-consumer focus of their PR, and the lack of games and exclusivities really hurt them.