I don't really know if this was downright bad or if the effect is exaggerated because I had high hopes for this. Ideally they would have showcased the gap between their "monster" system and the competition with some pretty visuals, but that never happened. There was no big exciting reveals in terms of exclusives, and the known ones they did show were pretty underwhelming (especially Crackdown 3 which seems to have gotten a downgrade).
They could have relied on big 3rd party reveals with some surprises which is what I though as they started off with the Metro Exodus reveal, but that quickly went downhill with the games shown afterward. The Anthem gameplay demo was probably their highlight, but that game was revealed yesterday so we all knew it was coming.
The best moments for me were the indies. Ashen, The Last Night, Life is Strange and some others only shown quickly in the montage, but none of those are big Scorpio sellers. Then to top it off they go and, in a way, play it safe with the price when everybody was expecting them to be more aggressive.
The problem with the conference is not that it's bad in the general sense. Any other year this would have been fine. The problem is this was supposed to be the E3 in which MS went straight for the crown, their own year of dreams, and they completely missed the mark.