IDKFA
I am Become Bilbo Baggins
Microsoft hasn't done but two things to keep Sony in check:
Jack and Shit. And Jack left town.
MS biggest failure is their inability to get a steady flow of first party games. Spare me the bullshit of them just acquiring their studios. These studios they acquired have been around for 10+ years. There is no reason that they shouldn't be able to release 2-3 major games a year with all the studios they own. Not to mention they don't do anything worthwhile with the IPs they do own. They should have a studio working on a new Fallout game, a new Elder Scrolls game, a new Doom game. The simple fact of the matter is that they do not have competent people managing their studios.
They are working on those games. Elder Scrolls VI is in production, but that isn't seeing the light of day until at least 2027. Todd Howard also confirmed Fallout 5 will be after that, but when will that release? 2035? Rumour has it a new Quake is also in development, but considering there is nothing official, even if it's real it's probably years away.
I do however agree that Microsoft could have done more with these IPs they're sat on. Even if it was just a remake of Fallout 3 or Oblivion with a modern lick of paint.