Because all the cards are on the table.
Playstation has a 70:30 digital/physical marketshare, Playstation is leading in overall digital sales, Xbox is losing up to 20% of their physical marketshare.
How Microsoft is supposed to make up for this ground with a higher digital/physical ratio?
70:30 is already a crazy high figure. If Microsoft had a 90:10 digital ratio with overall digital sales still behind Playstation you simply wouldn't see Xbox games doing anywhere 30% of the totals in physical sales as well.
Unfortunately Microsoft hides a lot of things precisely so that conclusive statements and negative narratives can't be formed around them but least in the UK there's a strong evidence that that they're simply losing overall software marketshare.
I play fifa 22 alot on xbox one s. From fut alone, we have 1.5m transfer cards at peak, during my login.
keep in mind those cards have 1 hour limit, so you will need to refresh it every 1 hour. This is 150k average players playing on old gen at the same time, who are using the transfer market.
this doesn't include those people who are just playing and not using transfer market, those who are playing SP mode.
You also have to keep in mind the 2:1 ratio, which most people ignore. 30% on xbox is around half of 70% PlayStation (ps5+ps4). in other words, xbox is selling the same as playstation. But the data would favor playstation, because of 2:1 ratio.
Its why its pointless to compare sales.
If both consoles had the same sales ratio, this would have been bad for xbox. because it would mean, they are selling less. Its all because of x1, that xbox doesnt have the same number hardware's as ps4+ps5.
Hope this helps.