Very true but I think the Bethesda situation is a bluff. I remember (but not very well) a few years back at the start of this gen or maybe just before, where Spencer gave a presentation and his wording of Bethesda exclusives was genius lingual play because he never denied those games would come to playstation, while making it sound like they would be Microsoft exclusives.
I'm convinced, to this day, that Bethesda games will come out Ps5 as a necessity for Xbox to make money so that the division can be kept alive.
I also believe a slightly mad conspiracy theory that the reason MS targeted Zenimax and Activision was to stop any progress on VR games. Vr Starfield, VR fallout and TES games would have left MS with no games at all.
Well, I don't know how much they can keep burning through money. I think they've changed strategy to put games on the competitors devices to make money, while offering those games free* on Xbox and Gamepass.
EDIT: I also have a theory that Microsoft will spin off Gamepass into a separate division/entity than Xbox in order to get around legalities with the deal. All games on 'gamepass' will be multiplatform, all games on 'xbox' will be exclusive (or the other way around)