Well, you see the thing is, I think that the reason for Microsoft's Scorpio announcement has more to do with being proactive.  I think that when the supposed specs leaked for Neo, and with Nintendo pushing back the unveiling of the NX, Microsoft saw itself as killing two birds with one stone.  Phil Spencer said that Project Scorpio would be the most power console when it released... I'm sorry he said he belives.  To me this indicates that he doesn't know if either Sony or Nintendo will present a more powerful console.  Jumping in line can have its rewards but there is also risk involved.  There is no way that Xbox overtakes Sony this gen so I think that the most immediate threat to XBox is actually the NX.   Zelda had a stronger showing than any of Microsoft's games. 

It's wishy-washy. It's more of a 9th gen console that doesn't want to be one. Microsoft doesn't want to start from 0 again, so it's not a true reset. But they obviously expect to reset the mindshare and as a result to see momentum shift in their favor.

The conventional concept of generations doesn't work for something like the Scorpio because it avoids the reset of the installed base to 0. But it's undeniably a reaction to Xbox One sales that trail far behind Microsoft's expectations. For the consumer, this altered concept of generations means shorter intervalls of owning the latest and greatest of console hardware from a specific manufacturer. Sony is moving in the same direction and both companies have already said that Scorpio/Neo versions of games could have notable improvements on a regular basis, i.e. the majority of future game releases.