A "two-way conversation" is what everyone else refers to as "a conversation". Is he stressing the "two-way" part because it's only just occurred to them?
So much awesome in this quote!
I don't really know if Sony had a conversation with gamers via feedback either though - they just made a common sense prediction as to what gamers would want and they communicated heavily with developers (as opposed to publishers) about making their platform much more developer friendly than previous efforts. They got their reality check in the current gen and learned what NOT to do.
People say brand loyalty doesn't exist, but clearly it does. Don't let the fact that Sony didn't own the current gen make you think that it wasn't in some part brand loyalty that kept them from being utterly destroyed this gen. Sony made some major fuck ups that would have SUNK a relatively unproven (at the time) competitor like Microsoft had THEY made the same mistakes.
The question is really whether Microsoft has developed enough brand loyalty and good will to get them through this even more colossal train wreck of fuck up upon fuck up that is the Xbox One. I honestly don't know. Microsoft currently has the resources to do it but I don't see anything in their track record that shows that they can maintain the effort in the face of being significantly outmatched. I don't know how important it is to them considering the multi-front war they are facing in nearly EVERY aspect of their many businesses. In a similar vein, Microsoft responds to these crises in a very particular way - they throw more resources, and in the past some very shady business practices, at the problems. Money-hatting FIFA is a clear indication of this sort of 'problem-solving' philosophy. It CAN work (Windows and Office, and for a significant time for IE). Often times it DOESN'T work (nearly everything else they've done since except Xbox 360).
Microsoft doesn't seem to understand that it's hard to buy a product we hate ourselves for buying regardless of our immediate self-interest.