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The crazy thing is : I actually got duped into buying an Xbox One BECAUSE I thought it had way more exclusives than PS4

Back in late 2015 I was desperate for games to play, I pretty much had nothing the entire generation up to that point. I switched from 360 to PS4 and I was very unsatisfied with the Playstation 4 as a platform. The third party games just sucked and there was hardly any first party. So, I got an Xbox One bundle in fall of 2015. I got Halo MCC with it, and then got Gears of War Ultimate Edition when it came out. Ironically, I'd argue Gears UE is still one of the best exclusives of this gen. This might have seemed naive, but just look at how much has changed since fall 2015 :

-I thought Crackdown 3 would release 2016
-I thought Sea of Thieves would probably launch sometime in 2016
-I thought Scalebound would come out in 2016
-I thought Quantum Break would be good and exclusive
-I thought Fable Legends would release 2016
-I thought Cuphead would release 2016

To be fair I don't think Microsoft ever hinted or announced a 2016 release for Sea of Thieves, but so much has changed and it's honestly crazy. To be fair a lot of this was consumer ignorance on my part .. but it's just so ... disappointing. 2016 COULD HAVE been the best year for Microsoft exclusives ever.

I think the problem is not just the amount of the exclusives but THE exclusives. Everyone has already mentioned this but at this point Gears and Halo just don't sell the same amount, and a lot of the sales eat into each other : If you play Halo you'll probably get an Xbox and play Gears, if you play Gears you'll probably buy an Xbox and get Halo, the games do not really cater to a separate audience and as such they don't attract different demographics of console buyers.

At this point though, I'm hopeful 2017 will be a great year. I'll probably just by MS games on PC, but it's still cool to see a company put some faith in smaller interesting projects.