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Tober said:

In a way the loss leader strategy already is a questionable strategy with Free to Play games being so popular. There are only a small amount of those gamers that buy microtransactions, most never spend a dime. Selling a console at a loss to those kind of players is simply trowing money away.

^ so much this.

Then throw in gamepass, that conditions people to not buy any games ontop... and yeah its gonna be bleak.