I'm shocked the xbox one even sold that much, it had no games after all and the always-online future Microsoft exposed itself building towards was orwellian as heck.
Their recent SAD retail sku is also doomed to failure, as it lacks a lot of compelling capabilities and grants no benefit over a classic version as well. A bit too expensive given the only ways to play games there is paying 2 subscriptions or MS taking a huge cut of every purchase.
MS had a great idea with building it out to be a media center but executed miserably in terms of an actual console. The Nvidia Shield TV is a much better media center AND you can play all of the retro games up to PS1 iirc (maybe ps2? I know an og Xbox emulator is in the works for pc, so that might get ported too).
Microsoft non-gaming vision even today is still doomed to failure, too many of their services are US-only or catering principally to north america. Noone outside that market cared about its cofd cutting effort at all.
Google didnt overtake them by just offering higher email storage, its Stadia is aiming to compete with powerful consoles at a fraction of the entry cost. MS ans Sony might have working alternatives but with higher barriers to entry (pretty much required to own their consoles first, while Stadia only requires installing Chrome for free).
What killed the XB1 was some of the security measures they had, mostly to Microsoft's benefit. It's no wonder both companies have teamed up for the next-gen console wars because they won't be going against each other, but many others.
If specs are to be believed, both the PS5 and next-gen Xbox will have beefy components up for use by developers. Should be fun times. I'd be interested in checking one out. The last time I had a console was over 20 years ago.