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I don't think the 360 "went" wrong. But there are mistakes to be adressed. This is what I think:

 

· Not purchasing Bioware, letting it fall into EA's hands.

· Failing to penetrate in Japan's market.

· Kinect meant that some first-party concentrated efforts onto it instead of controller-wise games.

· They have a great online infraestructure - Xbox Live - but they barely improved it throughout the years. It was only when the competition's online infraestructures gained enormous strenght that they started making progress.

· The worst, in my opinion, is the parity clause. Timed exclusives not so much, but parity clause meant that games that didn't release on a Xbox machine but others wouldn't see the light on it. This prevented games such as Guacamelee and others reaching 360's gamebase, which equal to less games. This parity clause is a disgrace.