Just to be clear, I separate Xbox and Microsoft. You'd have to be crazy to be actually mad at an electronic box; and besides, there has been some brilliant games on Xbox over the years.
But I think Microsoft are just awful at running anything and although Xbox was able to be great when the Microsoft exec's let the Xbox managers run the console division. Now upper Microsoft management are more involved in Xbox and want to tie it closer to the main Microsoft business, I think it has ruined Xbox.