I have a standard original xbox one and can run all the same games as Xbox One X albeit it lower detail and occasionally frame rates. The console seems to have almost no exclusives moving forwards and if it does my old xbox one is there for them. If I buy the game for my PC I will always have free online gaming and don't have to worry about subscribing to xbox live gold. Microsoft just seems to have lost direction with the Xbox and I feel uncomfortable spending more money on xbox hardware. At this point Xbox seems to need to undercut ps4 in price yet they seem to accept PS4 monopolises sales and it marginalises the Xbox brand. 4:1 in Europe and that seems likely to move even more in favour of the playstation brand. Not a good time to invest in Xbox and an Xbox game collection it seems. Much healthier position in the USA but even in the UK the Xbox seems to be getting much weaker compared to ps4. Saying that the Xbox One X is a stunning bit of hardware no question despite its greater power it actually needs to undercut ps4 pro on price to get some momentum back I feel.
I feel very much the same way. What microsoft would need to do to get me back is make a much larger investment into exclusive content. And not 3rd party exclusives which always feel destined to go multiplat at some point in the future. Sounds like they are going to be bringing Fable back in a big way in the future and that's a good start. If they can create new studios and spend the next 2 or 3 years delivering more great exclusive single player experiences I could see myself looking to them again by the time next gen rolls around if they have the most powerful machine.