While Game Pass is indisputably great, PlayStation Premium, with its vast catalog and games available for streaming, now gives it a serious run for its money. For someone like me who only plays maybe five or six individual new games a year, and missed out on like 80% of the PS360 gen and 50% of PS4, it's really great. Others who game more will probably want to fart in my mouth for making such a claim - I understand and don't blame you.
That said, Game Pass remains basically the chief reason to own a new Xbox, and I think Microsoft needs to work hard to change that outlook. I know that they're pushing hard to get their vast array of studios to complete the games they're working on, but in the meantime I think they could do other things. PlayStation / Sony very often money hats exclusive content and gated release windows. Microsoft could do the same. I realize they were burned in the past for doing that (remember Tomb Raider?). But who cares? This is competition baby. Make me want to buy a Xbox Series X for the living room. Make me want to get back into the Xbox ecosystem alongside my PlayStation.