Sure. Heres a fantastic tl;dr on the situation by
Tsaki
So, this was always a gamble from MS. I believe they truly hoped that the service & software would bring in a massive influx of new users, instead of a reconfiguration of an existing userbase. This reconfiguration has been noted, though, for several major titles and IPs for at least 4-5 years now. I remember when I first looked at the data for Gears 5 and how this affected them.
I think this was their last true attempt at entertaining the notion that MS could get folks to buy into this model who weren't already a part of it. They have tried ever-increasingly large releases over time to see if this would be it, and it never materializes.
The core issue now, though, is how expensive CoD's inclusion is for them relative to some of their prior attempts. My understanding from speaking to folks was that CoD's inclusion would permanently transform the business model of GP and where that revenue would be going. Prior, there was a more even distributed model, with the revenue coming in getting distributed between a variety of projects along several different metrics. The hope has always been that the service itself would bring in new users into the Xbox eco, and then those users turn around and start doing MTX purchases, which lets MS make up the difference. Less money up front, but far more money long-term. The issue is, the userbase growth needed to hit this has simply never come, and on top of that, their entire HW marketshare position is in the shitter.
So now, the GP division basically gets turned into a money funnel for CoD, which empowers the ATVI folks who have been steadily taking over Xbox, all while Spencer's team who still wants to 'fight the good fight' on 'console wars' get completely shunned out of authority. Sony gets to both increase its sales on their platform thanks to the Xbox HW eco shriveling up in real-time, and Sony also saves money on the marketing license budget & fees they used to payout but no longer have to. Honestly, I think the greatest thing to ever happen to Sony & Playstation was letting Phil Spencer take over the Xbox division.