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I think it would have spelled the end of XB ONE if they had not released it alongside PS4. My point is that if they have have delayed it by 6 months to around Feb - April following were the possible outcome.

- They would not have been able to change the SOC APU (the processor, GPU) as these things need around 10 - 12 months of testing.. and 6 months of testing after the final silicon..
- They would not have been able to change the OS as it would have not been able to redesign the OS
- All the current games would have to be put on hold till they finalize the system and OS which would mean that they game would have been pushed further back.

Sony would have created a total domination in USA and UK.. and when MS would have launched Sony would have been comfortably sitting at 4 million or so in these 2 strongest of MS territories and all the momentum would be with Sony. More and more developers would have gone to Sony like what happened in the PS2 era and it would have been even more difficult for them to secure exclusives.

So i think in the end the justification for keeping XBO would have been difficult for the new CEO.

Like Cerny said they started working by the end of 2007 on PS4. They defined vision and goals set out with surveys and this designing and making of new console is not a matter of months but years.. So delaying would not have i believe removed the fundamental flaw in the XB One..