That feels... 100% fair actually, and I don't exactly look forward to MS shows with bated breath. I've never even played a Forza Horizon (though I might start).
In a weak year, MS brought a shockingly solid show. Halo looked really good to me, but I know it isn't everyone's cup of tea. Stalker had a lot of people talking. Flight Simulator looks bonkers, if you're into that sort of thing. Starfield was finally teased, plus you get all the drama points for answering the exclusives question. And, personally, I've been waiting in a sequel to Psychonauts since the PS2/Xbox gen.
As for Horizon, it looked good, seemed to play well, and had really appealing setting. I didn't even begrudge them the cringy fake banter that game companies insist on using for multiplayer demos. It was refreshing in the age of cinematic CG trailers and a nice way to end the show