The Future of XBoxOne

It's hard to fight what their perception has been since last year's E3, similar to how Sony dug themselves a hole with that infamous 2006 E3 (FIVE HUNDRED AND NINETY NINE US DOLLARS, giant enemy crab, RIIIIIIDGE RACERRRR). They fouled up with the initial DRM, always-on, no-shared-games restrictions with a mandatory Kinect that jacked the price up a Benjamin that hurt worse when not only Sony had none of that, but made it front and center as part of their presentation. The roles had instantly become reversed where MS was now the tone-deaf company more interested in making an "entertainment-center" console as seen with Kinect (seriously, who would use their XB1 for fantasy football?) and Sony was the "we're all about games" company (the "Share" button and the new feature when someone online can play with you even without owning the game -- even just for a limited time -- is brilliant). Even with MS backtracking on all of that, it just made it feel like they only did it to save face and not because they had the gamer in mind. It's hard to undo all of that negative perception.

The other problems are that next-gen really hasn't had any true killer apps yet, but the PS4 has had an edge with remastered games, esp. The Last of Us (which is selling well), and XB1 is trying to go along with good-to-mediocre first-party stuff and games you can also get on PS4. Finally, it's becoming clear that when it does come to those multi-console games, the PS4 runs them better while XB1 struggles to get games to go past 720. I think they did a lot of damage to themselves early that the PS4 brilliantly capitalized on from the start that it will be years before MS can catch up (much like PS3 was able to close the gap on 360 later on). That said, PS4 outselling XB1 virtually 2:1 is a clear-cut sign that MS pissed away all that goodwill before the fight even really started; ask EA how hard it is to shed that "Evil Empire" tag.

It's just the role flipping again.

PS3 was viewed as a major disaster for the longest time. Wii was the winner in that generation, yet look at where Nintendo is (again).
Xbox was viewed as a major disaster for the longest time. PS2 won that generation.
Saturn was the disaster. PS won that generation. N64 never recovered from not even being in the market for like 3 years.
Genesis and SNES were both successful. SNES was originally viewed as being unable to catch up to Genesis, but it did and surpassed Genesis at the end.

I will say the big 2 (I don't even care about Nintendo right now) are still reacting slowly to the changes in gaming, as well as the poor US economy. For 2 generations now the big gaming companies have been charging $59.99, pushing for mega A+++ titles only, consolidating constantly, milking the franchises endlessly, pushing technology instead of innovation and game play. PC gaming, long viewed as "dead", finally struck back, led by Valve and Steam, selling games super cheap, along with an easy delivery system. Combined with all of these cheap games on mobile devices like Angry Birds, Flappy Bird, and numerous ones I don't even know about. It's no wonder the big 2 isn't making as much as they used to.