MS really does seem to have written everything off for this. It's a kind confusing message.
I'm delighted their strategy encompasses PC as a primary delivery pipeline now, and I think this box will help ensure MS content takes decent advantage of mid-to-high end PC hardware. But it makes this all the more irrelevant to me. What's the distinction for Xbox as a console now? On my (soon to be built PC) I'll have more power, access to the same VR ( if it's oculus, of course), the same MS content...
Of course, as a console, this will still be appealing in terms of value and retail accessibility, areas where PC still falls down. That can't be underestimated. But it's a little unprecedented that these are now the only points to really distinguish this box.