Microsoft and their messageing..... its so damn crappy and all over the place!
Also look at most of those game studios they just bought.
To me it screams that they don't know what exactly they want to do with Xbox. A lot of the steps they have taken lately has pointed to wanting to go full streaming, possibly multiplat. With the top brass at MS barely talking about the Scarlett, instead focusing on their xCloud and GamerPass future, which they will probably try to put on multiple platforms in the end. Even going so far to say that the main reason for the acquisitions was to increase content on those services. And MS's Matt Booty said that they would most likely allow them to continue making multiplats if they wanted to.
If I had a guess, Spencer is trying to convince them to hold off on those plans to help push the Scarlett. However, if Scarlett enjoys the same fate, or worse, than the XBO, you can bet they'll initiate Project Multiplat real quick. Of course, Spencer isn't great with his messaging, either. Just two years ago he was downplaying 60FPS, only now to say it is the most important thing to Xbox going forward. I wouldn't be surprised if they, and Xbox fans, use that as the excuse as to why Scarlett exclusives don't look as good as PS5 exclusives, especially if it actually does turn out that the PS5 is more powerful. "Well, of course they don't look as good, they are focusing on what's important, 60 FPS." With the argument being just 2-3 years ago, "X has more 4K games."
It's also important to note, like you said, that a lot of the bigger studios MS bought all have multiplats that they will be making first before shifting over to Xbox/Windows exclusively. It may not be til 2021/22 til we see those. Unless they are smaller games. Or are rushed and/or lack quality. With the track record of the last couple of years for XBO exclusives, either one of those are a possibility.