Not even just that; the Nintendo offer in particular is the exact same that was already offered at least two months ago. There's really nothing new there from what seems made available.
The question is how could MS go full 3P on Nintendo? They won't be able to bring all of their 1P games natively to future Switch devices, some games just may not scale down to that level. If their solution is to rely on a mix of native & cloud versions, does Nintendo get distribution of the cloud versions through NSO/NSO+ or does Microsoft retain those distribution rights in Game Pass?
Because if the latter, then you still have some of the same regulatory concerns of Microsoft being a dominant cloud provider (mainly through means of buying their way to the position, not earning it in the market by customers favoring their solution over competitors) going unaddressed.
Anyway I have to head out for now; this was already a lot to take in and I don't think Sony's response has happened yet (same for the other companies). This thread's probably going to be another 10 pages deep by the end of Wednesday.