MS just can't seem to get all of the pieces in place with their console business.
I think they're stuck between a rock and a hard place when it comes to exclusives. If they make true exclusives for the Xbox One, they'll get criticised by PC gamers because they're ignoring them, and if they make games for Windows and Xbox, they have no true exclusives and so the "why should I buy an Xbox?" argument has some validity.
I don't think they're doing a great job with their current strategy though. Even if you look at "Microsoft exclusives" versus PS4 ones, things still don't look that great for MS, and the Windows Store is still something that PC gamers largely seem to want to ignore in favour of Steam.
I don't think the dashboard is terrible. It's functional and the console is packed full of features, but my main gripes are with polish/performance and reliability. It just doesn't feel fast and slick in use, and I often have issues with basic features not working properly. For example, sometimes when someone sends me a message, a notification doesn't pop, and sometimes my friends list shows out of date info, so it might say that a person is online playing Overwatch, but when I click to view their full profile it'll say they were last seen 10 minutes ago - stuff like that. There's no major deal-breaker issues, but there's a bunch of small things, some of which seem to come and go at random, and doing factory resets and any other troubleshooting steps makes absolutely no difference. I've owned the console since day one and it's always been like that.
They're doing a lot of stuff right though. The hardware (particularly the One X). The Elite controller. Game Pass. EA Access. Play Anywhere. Supporting cross-platform play. Also, people really need to knock the "Xbox One has no games!" shit on the head. I have 573 games installed on mine and the 8TB hard drive I thought would give me ample room is starting to look too small, but they are certainly not up there with Sony when it comes to quantity and quality of exclusives, even if you count "exclusive" as PC and Xbox combined.