It hasnt been a good generation for Microsoft in regards to games tbh.
Their 2 biggest IPs, Halo and Gears of War, severely underperformed compared to their predecessors.
Halo MCC was a disaster. Halo 5 didnt even reach 1 million in its debut month at NPD (which is a huge decline compared to 3+ million debuts past entries had).
Gears of War 4 seems like a flop (relatively to past entries of course), it has done pretty bad in Europe and US. Microsoft didnt even shared numbers yet.
Then we have their new IPs: the biggest ones were definitely Quantum Break and Sunset Overdrive. Both underperformed. I would say Quantum Break situation is even worse, because that one was actually market and people had high hopes for it. In the end it floped commercially and critically.
Then we have all these cancelations. Project Spark, Scalebound, Fable Legends, Phantom Dust...
The only good thing out of this gen for them was the Forza series, especially the Horizon brand, which is doing very well (deservedly so).
I feel like Scorpio really needs to be a sucess for Microsoft, and the company itself is really counting on that. But it is hard to imagine how they will do that without attractive software. Halo and Gears are losing force and brand power each new year and new IPs from them either are getting canned or underperforms. They are in a very delicate situation.
Next year Sony is going all out with exclusives and partnerships and Nintendo is releasing a brand new console. If they dont work on their problems and nail Scorpio's reveal, I can see Xbox One agonizing a third place from now on.