Nah, Consoles and gaming sales have actually gone up during the pandemic.In my opinion I think the Xbox Brand needs new leadership. Phil Spencer seems to talk a big game but when the real info comes out its always underwhelming.
Gamepass isn't a terrible idea but I don't see many people willing to keep the service if the only new games being released on the service is just AA games and a bunch of junk games no one is going to play for long.
Then the fact that most AAA games will be coming later to the service is bad. By the time they are released gamers may have played the game on the competitor's platform.
Plus most of the games they showcased didn't look good enough to get me interested in purchasing a Xbox Series X console.
I still think they will get off to a slow start due to most gamers sticking with the Xbox One X and the lack of decent launch titles. Which will put them behind the Playstation 5.
Honestly I think both companies should delay this new console generation a year. Due to covid and the economy I don't see many people willing to pay for a new console right away.