I dont think lack of games was the real problem.
I am not buying the system because:
1. Doesnt allow used games.
For me selling my games used gives me income to buy new games. I have used this method for years and it saves me alot of money. Without that money i wouldnt be willing to spend as much on games as i do, since games are already expensive as it is. This would effectively mean less game buys from me. I'm sure im not the only one so this is a case of greed over reason.
2. Always on.
Not a huge issue, but an issue. I dont want my connection to have something streaming constantly making my connection unstable. I play online games on various systems and in particular the PC and i dont want my ping to be messed up without a moments notice and at the most innoportune moment. Of course, losing acess to games if the provider decides to do some maintenance is not a happy prospect.
3. Kinect mandatory.
I dont like montion controls. Thats just how it is. I dont want to have to pay extra for it and i dont like the idea of having a camera of sound record always listening to what happens in my home and for microsoft to have full acess to it. Its violation of privacy. Also, i doubt it will work well. The thing will have issues with voice recognition, wich is a problem that all voice recognition programs have.
4. Lack of trust on Microsoft.
Microsoft has left the 360 to dry for 2 years now. Yes, its supported by 3rd parties but first party is dire, very dire. Its also in great part dominated by shooters, in particular first person ones. That is not the reason why i got the Xbox or the 360. I got it for the role playing games. Also the focus on kinect and casual games as a result.
I have absolutely no doubt that Microsoft will repeat the same pattern. Once they have you in the pocket they will stop supporting you. As such i dont trust the Xbox one as a long term investment.
Games are not the main issue. I know it will have some. Heck i am probably gonna get the Wii U and that isnt exactly bursting with games at the moment. Aslong as there are good exclusives i will ponder buying. I bought the first Xbox and the 360. I will refuse to buy the xbox one.
There is no master stroke here, just greed driven executives that are blind to the big picture.