Pretty much agree with everything you said. Microsoft started out having no support, so they need to show people that its their console where games are the best. They are basically trying different outfits just to show people they look good in them, that's how I would describe it.
Although I would have to agree with the previous posts and wonder why Microsoft doesn't just build new IP's or buy companies instead of paying for timed exclusivity. On top of that, the games evidently don't show as much impact as they do for one console.
This is the true definition of owning.