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And what exclusive games Microsoft should lose? The only two meaningful exclusive IPs from 3rd party developer are Alan Wake and Gears of War all others are from 1st party. Oh yes and there is this game from crytek "Ryse", this game was announced as xbox 360 exclusive but never was released, so this game might changed to the new generation consoles now.

If Ryse is this lost exclusive nobody would complain about it I think.

The only IP that really hurt Microsoft would be Gears of War, GoW is a systemseller and quite important for Xbox but MS still has a really good relationship with epic so I don't think that Microsoft let this happen.

Alan Wake is an awesome game I personally enjoy it way more than Gears of War but it is not that successful. So maybe Microsoft don't pay Remedy further for a exclusive deal and let them go multiplatform with Alan Wake.

But most likely the lost exclusive could be Ryse from Crytek, when this thing you say are true.