Of course it can be saved. Look at the PS3's comeback around 2009. That was a system destined for a very distant third and it's come back to essentially tie with the other two.
Now the XBONE is in a different situation. There's very little Microsoft can do to make it a better core system than the PS4. At the moment however it's practically trivial to beat the PS4 with casuals and gimmicks. Release some cool thing people didn't even know they wanted and bam.







