The biggest problem with this is that they simply don't have the studio portfolio and strong partnerships necessary to take advantage of these IP, or to even establish big new ones. Sony, and to a lesser extent Nintendo, have been able to branch out with new IP and continue to expand on older ones because the have the strong internal talent and partnerships available. All of their best talent is working on Forza, Halo, and Gears.
MS has already tried to do this and bungled almost every publishing arrangement this gen (Scalebound, Phantom Dust) or released to mixed results (Ryse, Quantum Break, Dead Rising).
In short, the question for all those games is: "Who's going to make it?" They simply do not have the same quantity and quality of first party studios and partnerships that their competitors have, making it tough to experiment, take risks, and truly build.
MS did not try, they fucked up period in their overall approach from the beginning. Allard and his team were doing a great job, but saw where Mattrick/balmer wanted the division to head to and they were like " I'm out".
If the people who help make xbox what it was in the beginning stayed like J allard, shamus and the likes xbox would not be in the position they are in. They sat all through the xbox 360 years making some unique games but not continuing them because they didn't meet sales expectations. More studios would stayed and made games for them like Ensemble if MS ween't dicks. Bungie would still be with them if they were given creative freedom, if MS outlook was to be the western type gaming box for people who like PC style/ western developed games they would be fine.
They are the ones who fucked up, they didn't get into gaming for the same reasons Sony, Nintendo, Sega did.
Which was to release compelling software/ entertainment. Xbox and microsoft wanted to sell you services that had entertainment. And that's why xbox is in a shit affairs. Once Call of duty did insane numbers that was the start of the end for anything creative over at xbox.
From there on out it was mostly sequels with DLC, third party deals, and games like call of duty making up the majority of their library focus.
If they had got into this business for the correct reasons gamers would be buying xbox's, Microsoft branded/published games and the division would be flourishing with creativity from PC developers. Instead they went the opposite way and alienated gamers with their shitty practices to indie development, DRM, DLC deals(which sony is now doing unfortunately).
It sucks because I saw a lot of great stuff on xbox and early xbox 360 days that reminded me a lot of the dreamcast in terms of diversity of quality software.
Them not having studios is their fault, and if that is what tanks the division then let them die on their sword.