Would you say Nintendo accepted defeat since the Wii? Doesn’t seem to be bothering them much. Unlike Nintendo that stopped trying to compete in traditional hardware MS is doing both. Traditional hardware/games but also services that just take the industry in a new direction.
Nintendo is very much competing and they have a 3.5 year head start on Generation 9. The console war is only over for Microsoft. When they say "The console war is over" they mean "for us".