Microsoft has fought their asses off all generation, unbundled Kinect, multiple price reductions, 2 revisions, released their biggest IP (Halo, Gears, Forza), has full AAA support, paid for exclusives/timed exclusives (Titanfall, Tomb Raider, PUBG), released a handful of new IP (Sunset Overdrive, Quantum Break, ReCore, Sea of Thieves). They just cant seem to get out of that ~8 million/year baseline.
Most of those are fighting for American/UK customers, who are notably disloyal. When they could be fighting more for European customers or in other areas like South America. Take Fifa away from Sony instead of the Madden deal or release more games to european taste.