Went in with low expectations and was pleased. I don't get the talk about being let down or failing expectations, they repeatedly said before the event and even right at the start of the event via Greenberg that first party titles would be in another show. I think what people are describing as lackluster showings is going to be a common theme this year as COVID-19 has wreaked havoc on game development. People criticizing MS for not showing bigger third party games are assuming there were big third party games to show. A lot of these big publishers have confirmed or are rumored to be throwing their own digital events this year so it makes little sense to reveal their games here and steal their own thunder.
Personally I'm fine with them showcasing a bunch of new IP's and smaller titles to give us a taste of next gen. Anyone feeling underwhelmed by this don't have their priorities or logic in check lol.