I really don't think we'll have to worry about droughts on Xbox again. They now have 15 first party studios and seem to have somewhere between 21-27 autonomous teams between those 15 studios. Assuming an average of 3 years of development per game, that works out to between 7 and 9 first party games per year on average. Some games will get more than 3 years (Halo Infinite is getting 5, and a leaker on Era today is claiming that inXile's AAA RPG will get 4-5 years as well), others will get less than 3 years probably (smaller stuff from single A teams like some of Double Fine's teams for instance, Forza could possibly go back to 2 years in the future though I hope it stays at 3 years, perhaps with a 3rd racing franchise added into the yearly rotation like PGR or a kart series), but things should average out to about 1 game every 3 years per team. Even with possible delays or cancellations being factored in, we're still looking at 6 or more 1st party games per year most likely.
And that is just 1st party, MS currently has 3 announced 2nd party projects (Battletoads, Flight Simulator, and Tell Me Why) plus they say they have quite a few unannounced 2nd party projects as well, including some larger AA and AAA 2nd party projects I believe. Then there are the 3rd party exclusives and timed exclusives like Scorn, The Ascent, and The Medium from the recent 3rd party event. MS strategy seems to be copying Netflix with Gamepass, Netflix has a steady supply of new exclusive content year round, both Netflix Originals and moneyhatted movies and tv shows from 3rd parties, and I think Xbox's goal is to do the same thing with Gamepass, keep up a steady stream of exclusive games so that people will want to be subbed year round instead of only subbing for a month when a big game releases.