The more I think about it the more I believe it would be in Microsoft's best interest to hold their own event equivalent to PSX.
It doesn't need to be as huge but something targeting the dedicated crowd where they can speak directly to their audience, make some cool announcements, preview stuff ahead of release and freely dominate the news for a few days would help generate a lot of good will for the brand.
Maybe do it in like late January as to allow plenty of time between it and E3 and give folks some time to recover from the holidays. Have Sea of Thieves, State of Decay 2, some recent releases like Crackdown and a bunch of cool indies available to play. They could hold a press event where they drop release dates, announce Recore Definitive Edition, Gobo's game, maybe an exciting multiplat and hell, go ahead and announce Halo 6 and a beta while you're at it. Make it a big deal. They need something to generate some serious excitement.
It doesn't need to be as huge but something targeting the dedicated crowd where they can speak directly to their audience, make some cool announcements, preview stuff ahead of release and freely dominate the news for a few days would help generate a lot of good will for the brand.
Maybe do it in like late January as to allow plenty of time between it and E3 and give folks some time to recover from the holidays. Have Sea of Thieves, State of Decay 2, some recent releases like Crackdown and a bunch of cool indies available to play. They could hold a press event where they drop release dates, announce Recore Definitive Edition, Gobo's game, maybe an exciting multiplat and hell, go ahead and announce Halo 6 and a beta while you're at it. Make it a big deal. They need something to generate some serious excitement.