Very impressive specs, but I am still not sure of the market for this console. If the price can stay down I think it has a shot, but it seems that Microsoft is cornering themselves in a spot between "I want cutting edge, but I don't want a PC"...not sure it will bring enough to the table to steal away from the established PS4 Pro ecosystem.
What made the Xbox360 so great (and there were many reasons), but one that stands out to me was the leap of going from SD gaming to HD gaming. But part of that transition was that TV was also going from SD to HD. Currently, there are no networks broadcasting in 4K, so there isn't quite the drive for people to buy 4K sets if they already have a nice 1080p television. I think once that change happens, the Xbox could get a boost.
All in all though, very impressive. They are going for it.