Considering that Microsoft has no coherent overall strategy for gaming, yes, there will be another Xbox. They'll go with Greek letters the next time, so we'll get an Xbox Omega among others.

I can remember Phil saying something like they loose $100 on every box. In the past the only thing you could play on the box were paid games, so the loss could be recouped. But in a world were kids play Free to Play and might not buy so much, is selling a box at a loss still viable? Also since Gamepass seems to have hit some kind of ceiling on the console.

I think there will not be a 'standard' console going forward. Perhaps a streaming device or hybrid of some kind.

Hard to say. They will release new hardware but it might just be a closed PC, like a Steam Machine or SteamDeck with their own twist.

Yes, but it'll not be their focus anymore. I expect it to be a product announced without much fanfare and released with moderate stock, and probably no exclusives either.

So we will know it's Microsoft's final console when they announce the Xbox Omega.

If selling 50 million units or so is worth the investment, then I expect at least one more console from them.
All digital though.

Having a console helps them with Game Pass as well.

While there are more free to play games, there are also more micro transactions and game prices generally went up to $70.

If there is, they need to be very careful.
Bailing on the Xbox Series too soon could lead to a Sega situation where the remaining fanbase feels burned and won't want to invest in the new console for fear it too will get cut short, opting instead to wait and jump ship to PS6.
Ultimately, what they need more than anything is exactly what they have lacked since the 360; killer games. Software sells hardware, and they have no answer to Nintendo and Sony's first party heavy hitters.
If the lacklustre first party output continues, the next system will fail just like the Series.

Killer and exclusive games.

One of the reasons I didn't purchase an Xbox Series is because I can play almost all their games day 1 on PC.

True, but not everyone can afford a PC that can play AAA games, and PS games also come to PC these days.

I still think there's an audience for an Xbox console if they could just provide desirable games.

I think they will probably be one more generation of hardware from Xbox. They're obviously investing heavily in gaming, but they haven't come anywhere close to making game pass ubiquitous. So, hardware is still necessary.