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Mr Puggsly said:
Assuming this is another longer generation, they can probably sell 40 - 50 million units.

In my opinion, that would doing well.

It really depends on the context. With that logic, we could assume that the PS3 was a huge success because it outsold most consoles ever released. Going for sheer numbers, I would say that the PS3 and SNES were a success.

Going for the full context, the PS3 lost an almost full monopoly and allowed the competitors to get at the same level of sales. The SNES lost the full monopoly of the NES and allowed Sega to become a big player and made Nintendo fragile enough to be overcome by Sony. From this perspective, the X1 is losing the share that the 360 conquered and that isn't the same as going well. And even the brute numbers of 40-50M aren't that good for the current market size.