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Player2 said:

Before the Xbox 1 reveal I thought Microsoft had a good chance. All they had to do was to continue with the 360 strategy and release a system with the same power as the PS4, spend some of M$'s money to sell it 50-100$ cheaper and get a few meaningful exclusives, but I understimated Don Mattrick.

Before the reveals I really thought Microsoft's money bin would make it possible to counter everything positive about the PS4 without Sony having money to respond.

In hindsight I should've expected a PS4 to sell more worldwide than an "Xbox 720" with identical price and specs (at the time we didn't know that PS4 would be both stronger and cheaper) considering the strong sales of the expensive and failed (inferior controller and architecture) PS3 and the fact that people had moved on from Kinect and the motion fad.

I guess I just thought that "Xbox 720" could expand the market share like Xbox 360 did with the help of Microsoft's money (low entry cost, better hardware, lots of 3rd party exclusives and plenty of PR).