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EricHiggin said:

Going head to head with PS5 hardware was never going to work for MS unless they started buying studio's much sooner and dropping exclusive bombs from day one launch. They didn't do that though. While I don't really remember seeing anyone suggesting something like XBSS way back, I did.  I figured it was the only way the future XB Series consoles stood a chance. Try and beat SNY by having the highest and lowest end hardware at reasonable prices. The cheaper model being highly affordable most importantly to undercut SNY. While there was no guarantee SNY wouldn't do the same thing, as they've said they thought about it, there is also no guarantee this will have a major impact. It should certainly help MS turn things around and take back some market share, but I didn't and still don't believe that it's going to end up anything like 360 vs PS3.
MS has dug themselves a hole to China and they need to prove themselves to gamers before they get much help being hoisted out while helping fill in the hole.

iPhone. Jim Balsillie and his Blackberry team were idiots. Not because they didn't see it coming, but because it was clearly happening and they ignored it like they were Gods.
Tesla. SpaceX. Starlink. Not so much SpaceX, since it's mostly competing with Gov space agencies, but they are changing the game.

@bold. Links or it didn't happen!

I think Netflix played a really good move making their own content. If they hadn't done that, they would've lost their position as a major source of entertainment, against HBO, Amazon Prime, AMC, etc.