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Regardless MS remains relevant this gen and beyond. Predict the gen to end with them at 50 million units sold and Sony at about 100 million. That's nothing to scuff at. Sure they lost market share compared to last gen but they have consistently priced outside of mass market pricing ($399 and less) all gen, so the market share drop should have been expected.
Also keep in mind that nothing is stoping MS from price adjustments early next year, and if MS do cut price of the 1X I expect it to out sell PS4 in the states weekly. So don't write off MS yet, this new console makes them competitive in the long run.