--BTW this article looks like an ad for Jason Schreier's new book about this topic, that releases soon and is mentioned as the last sentence in the article with a single link that spans across 4 lines.--
Nothing much. Microsoft put out one of the worst Call of Duty games in history (Modern Warfare 3 in 2023) and couldn't save Overwatch 2 from being totally ruined. Console sales and Game Pass didn't grow as expected I guess. And then the layoffs... Funny enough the releases on PC and Playstation (by Xbox) doing well. At the moment its a total disaster and we question if Xbox will survive until next gen (off course it will, there is Microsoft behind it). Once again Xbox players are told to wait until next year; basically since the launch of the recent console.
(Note, I don't hate Xbox and even own the Series S as a backup console if my PC explodes or a game I want to play doesn't work on Linux. I hate Playstation probably even more for what Sony is doing. Just mentioning this as a context, because I'm so negative in this post towards Xbox, but more specifically Microsoft.)