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Opinion: Phil Spencer, long cast as Xbox’s saviour, may be remembered as the man who killed it
(www.videogameschronicle.com)
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I don't think it's a death, it's more of a transition. Firstly, a lot of XBox games have been coming to PC, intentionally, because Microsoft basically own the market*. They've also created XCloud + Game pass, possibly the most convenient way to play games, and you don't need an XBox.
The real people who've turned on the device itself has been devs. Some of the stuff they've been saying at GDC have been at the same level as the stuff they say about Linux as a target. Like your game shouldn't be that dependent on platform, it hurts things like archival.
You have to ask yourself why. Devs are professionals by definition, for them the context is ease of developing along with potential to make a return on investment. Xbox (console) is now a problem on both those metrics. Simple as that, no fanboying or villifying required.
Its just not a big enough market and a good portion of the market is GP'ified and doesn't spend outside of it. Couple that with dual SKU targets with real challenges working around the S memory constraints and here we are.
But I agree that its a transition. Away from the current hardware model.