A few more minor points
For those saying Microsoft has a bad strategy. I would say that the proof is in the results that you are very wrong. Funding exclusives is very cost effective. Bringing in strong short term gain. Buying a studio is a long term investment, and it can take five or six years to see a return on investment. Hell you might not see a return on investment at all.
Which brings me to my second point. All of the manufacturers have studios that have failed to perform, or are failing to perform. The reason your not aware of this is, because the titles they put out are beneath contemplation. In other words you do not even know the names of these failures. Being under a manufacturer does not equate to producing high quality games.
Let us try to avoid overly positive generalizations. Microsoft has funded shit exclusives, and the likes of Sony have had studios that churned out crap, or at least games that were less then well received by the gaming public.
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