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twintail said:

I think the S could be retired, but still supported (with no parity) going forward

I don't think the S is even that valuable as an entry point anymore. Unless you really want in into the MS ecosystem, it just looks like poor value next to a PS5 digital.

It is an entry point into GamePass. That's where the value is and it is still very valuable.

Someone can buy the Series S and subscribe to GamePass right away, this is definitely still very true as the other alternative is to buy either a Series X or a PC (powerful enough to play those games). By far the best value in entry gaming right now imo; not to mention that you can re-use all the accessories from the Xbox One (controllers being the main thing).