Making it console exclusive would make sense. It would avoid turning the game into a shovelware.

But a total exclusive would not make sense since you'll be losing the fanbase on Windows and Mobile devices. Too much automatic money to leave on the table.

console exclusive is the best choice. Make it available for PC/Smartphone/Tablets and Hololens.
BOOM!

Minecraft 2 become another money printing machine like Windows for the Giant.

Timed on xbox and windows is a maybe at best.

Just release it on "Xbox" then that covers the Xbox console, PC, Tablets and Mobile.

No. Too many sales on other consoles. Timed exclusive might be the way to go for them.

The real question is what can MS do to make people want a Minecraft 2 in the first place??

Microsoft isn't Sony.

What would Mine craft 2 be? Graphics clearly are of no concern and most thing can be added via updates and given PC modding community I see no reason anyone would leave the original.

Converting it into a cover based shooter or a yearly release fps series? Imagine gears of war where you can pop down 2-3 blocks to jump in behind while moving towards your enemy. GOTY

To be honest tho, the main thing you'd want from a sequel to the console variant of the current game is to have a larger world size and to properly lock in the rate of animals spawning/being killed off, but then again that is just a console improvement and is down to the memory of the systems. Can beat the PC for world size.

It would move some consoles but would it be profitable? I say make it PC and console (as always).