And yes, that is a bad thing.
They can't just keep investing in exclusivity deals, that is not enough. The problem with that strategy is that they will never beat sony on that front. Sony has more first party studios and similar but stronger hardware so all exclusivity deals will be transparent moneyhatting and noone is buying the cloud (atleast not yet, so there is almost no point in using it as a selling point).
They need to ease up and start investing in other things ASAP. When I say other things I don't just mean tv and sports again, they need to start working on services that may or may not be related to gaming. Sony has morpheus, ps tv, game sharing, ps now, etc. Those things may all fail but Microsoft can't afford a wait-and-see attitude, they need to start investing yesterday or else they are going to have another windows phone situation where they show up to market 4 years late.
Hopefully next years E3 won't just be a rehash of the past 2 where they trot out cinematic cutscenes and get praised for "focusing on games", they need to announce something new and innovative very soon. Services, not just games Microsoft.
