It's clear that Xbox isn't going to stop producing consoles mid-gen. They'll even do something next gen, slowly pivoting away from traditional boxes to something more focused on Game Pass as a service (an entry-level local play machine like the Series S and/or streaming boxes for xCloud).
What they do after that remains a mystery, but I wouldn't count on them surviving in the console market much longer. They've had 20 years to achieve their goals and they have consistently finished third in the race. Yes, even the 360 ended up in third place in terms of sales. And its dominance in the early years did obviously not translate to anything positive for the Xbone.
Anyway, whatever Spencer is saying now means nothing. His speech is hollow. It doesn't address a single important point from the past couple weeks, and it does not certainly not do anything to put out any fire created by the rumors, loud whispers and small pieces of evidence here and there that amount to a mountain now.
We'll see what happens next week, but I'm pretty sure that all the xbots who are now claiming victory and dismissing all the breadcrumbs pointing to Xbox's dropping from the race are in for a rude awakening.