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Louie said:

If they have an actual strategy for the future to make Xbox successful again this is a good move.

^ this.

If they are committed to trying to really sell big numbers of hardware units again (consoles), this could be a worthwhile price to pay for that.
That requires a semi affordable next gen console though. 

The rumors of a 1200-1500$ next gen xbox, will make that hard to achieve.
Does anyone realistically see "project helix" selling like 80m units at such a price?