At $500 the "X" is most assuredly being sold at a massive loss. Add that to the fact that at 25 million sold, the Xbox One is considered a bit of a flop, as well as having an entire team purely coding to make backwards compatibility a thing (with no guarantee of a return) and that leaves Microsoft hemorrhaging cash.
Considering as well, that not everyone owns, can afford or even wants a 4k TV... that is a heck of an investment on a console that isn't even getting it's own exclusives (according to Microsoft).
Of course the "X" has no competition... because no one in their right mind would want to be in the position that the Xbox division have put themselves in. With so few games that can only be played on an Xbox One in general, the "X" from my perspective, is just a supremely impressive (and expensive) paperweight.
