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Many exclusives are less main stream than 3rd party titles, or more niche is you like. Hence they sell less, but with a more diverse portfolio you draw in more different types of customers. That is what MS never understood or managed to accomplish.

And for those that never buy exclusives, just the annual CoD/Fifa and GTA, even they get some secondary influence from exclusives following the console of choice of early adopters. MS got that part working very well last gen, yet when pretty much abandoning the hardcore after Kinect they saw the diverse and continued support on ps3. Not a big surprise many switched or didn't bother to buy One.