I think Phil got the company in an awful state and even if in the short term hasn't made a great job, specially regarding studio management and first party roadmap, I think that at the cost of killing their console (something I think MS started to slowly do before him) in the long term they will become a relevant top player fighting closely with Sony and Tencent for the top 1 position of top grossing companies.
Reason being that AAA are becoming too expensive to be released only on a single console, and at the same time the hardware from consoles, PC and mobile/tablet is becoming more and more similar. So I think in the future we'll see a MS, Sony, Nintendo, Valve, Epic, Google, Apple stores that will allow you buy or play their games with crossbuy in the versions of this store in their console, PC, PC handhelds, mobile/tablet, natively or (also in smart tvs) in the cloud.
I think MS will be the first one to implement this and thanks to their big catalog and 1st party output, which I assume all these teams they bought some day will start releasing periodically good enough stuff, and doing so in all platforms including rival consoles day one.
I think Sony and Nintendo will also do it, but later and only releasing their console games in their own console.
In the Sony vs MS fight, I think Sony will continue performing better in console thanks to better hardware and 3rd party sales, but in terms of 1st party for console I think MS will sell more. I think Sony will become a larger publisher in PC than MS becoming minimum top 5 publisher in Steam, and in mobile I think MS will continue ahead of Sony, even if I think Sony will climb way higher than where they are now.
In the overal total gaming revenue I think Sony will be first, second Tencent and 3rd MS but with a relatively low distance.