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.
Hardware Comparison Threads:
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Is Hardware Getting TOO Powerful?
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PlayStation/Xbox/Switch: 2022 Edition
PlayStation/Xbox/Switch Hardware Battle: 2021 Edition!
PlayStation 4/Xbox One/Nintendo Switch: 2019 vs. 2020
PlayStation 4/Xbox One/Nintendo Switch: 2018 vs. 2019
PlayStation 4/Xbox One/Nintendo Switch: 2017 vs. 2018
PlayStation 4: 2015 vs. 2016 vs. 2017