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The two biggest things that ultimately shot the Xbox One in the foot were:

1) The lackluster 1st Party lineup, especially when compared to Sony and Nintendo.

2) Launching at $100 higher than the PS4 for no justifiable reason.

3, and the biggest reason in my eyes) That horrendous, God Awful, reveal.

Microsoft seems to be addressing the first issue very seriously. Now time will tell on the other two.