Personally the only thing MS might be panicking about (and I think thats too strong a word) is Sony confirming that used games will work on the PS4. There have been a lot of rumours regarding used games being blocked with Durango (more than the rumours of used games being blocked on PS4). If MS really wanted to go down that path, they really needed Sony to do it to, so that the consumer backlash is spread across companies.
Now MS either has to ditch the idea (if it indeed wanted to in the first place), or go it alone and face the full brunt of the consumer backlash that will occur. Personally, I don't see them doing it now, it would be a PR disaster.







