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Indeed. Eurogamer just posted an article about it.

https://www.eurogamer.net/activision-blizzard-boosts-microsoft-earnings-but-xbox-console-sales-plummet

No Gamepass numbers either anymore and MS is putting their games on Switch and PS5 now.

Personally I haven't used the Series X since I played Forza 7 on it (not getting 8) apart from watching 4K blu-rays. Same with Switch and PS5 though, I've only been playing PSVR2 whenever I have some time. Last non VR game I bought was for my kids, Lord of the Fallen I think. I dunno if it is all because of VR but nothing flat screen seems to grab my interest anymore.