I would be inclined to think this deal was a bad thing if Microsoft was in first or a very close second place in console, PC, or Mobile. The fact of the matter is they are a distant last place in console, a non player in mobile, and 7th on PC. The cloud market is so nascent that it’s irrelevant.
This deal injects badly needed competition into the gaming market. It specifically puts a level of pressure on Sony it hasn’t felt since probably 2012. This will result in high quality products and services at more competitive prices.
Compete or die.