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gergroy said:

 It is much more likely Microsoft would remove kinect than the blu ray player. 

Agreed.  If the alternative is XBone doing very poorly anyways, salvaging it to be half-close to parity with PS4 in marketshare is a decent strategy,

especially since by dropping Kinect they can drop the price ~$100 without needing to lose any more money.  That leaves them with the weake console,

but they still have many exclusive games coming, and they could plausibly try to undercut Sony by $50 eventually to achieve more sales.