It is strange, but Microsoft spent big on Minecraft and then released Minecraft Dungeons day and date on all consoles, all the while Minecraft getting continuously updates everywhere.
You may find the lack of coherence and logical thinking on Microsoft's part perplexing (and it is), but that's just who they are. They have no clue, but they have money.
I always find it absolutely puzzling how people claim Microsoft has "no clue".
They definitely have a clue when it comes to business... Because I can not remember a time where they were financially struggling.
In short, Microsoft definitely has a clue, their strategy has to be working for them to still be raking in cash... And yes, Sony and Nintendo are a business also and also primarily exist to grab consumers wallets. Microsoft is simply better at it.
Microsoft isn't good in consumer markets.
They have a huge amount of money because they convinced PC manufacturers to bundle Windows with their PCs, these PCs were sold to businesses and then it trickled down to computers for home use because Windows is what people got used to and the aforementioned PC manufacturers competed with each other on price, so Microsoft could work with high margins on their operating system while the PC manufacturers worked with low margins on their hardware. This is what Microsoft has leveraged ever since.
But whenever Microsoft has to do all the actual work themselves, be it Xbox, Zune, Windows Phone or whatever else, they have a really hard time to run it as profitable business because consumers have viable alternatives in the market and the usual outcome is that consumers don't pick Microsoft's product. We have Xbox sales numbers on this site and it's verifiable that Microsoft isn't better than Sony or Nintendo, especially because Microsoft had all that Windows money and still couldn't pull of any win in the console business.