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I look at it this way.

It was an appalling performance from my personal selfish point of view because they didn't showcase anything new that is of interest to me. I am not a fan of kinect and never liked halo or forza. The only thing they show that interest me was Tomb Raider Origin and Gears 3, both of which we already knew well ahead of the show.

Sony's conference wasn't much better though... in fact, I would say its even more disappointing because expectation was higher.

I understand that MS needs to be more pragmatic, I just don't see how that clashing with my opinion suddenly invalidate my opinion. 

I don't play MS marketing strategy, I play their games and they are not making or announcing the ones I want. Therefore MS conference failed.