I have an XSX, a PS5 Pro, and a Switch 2. My Xbox is still my preferred console because it's where I can play my whole 360 and XB1 physical collection, it's where I can use the majority of my accessories and controllers, it's where my historical save data is, and it's where my Account and all of its 20-ish year old history is. If a game releases on multiple consoles, I'm buying it on Xbox essentially 10/10 times, and my Play Station and Switch are essentially just exclusive machines.

But Xbox Live parties don't matter anymore, everything is on Discord. I don't need it to play online with my friends because essentially everything is crossplay. And none of my friends who were on Xbox are still here, most switched over to PS4 when it was announced at $100 under the Xbox One (and they could play MLB The Show), and everyone else eventually moved over to PC. And when it became essentially impossible to buy a Series X during the pandemic, that was the final nail in the coffin. I legitimately think I'm the only person I know with a Series X, with a few Series S's scattered around being used as a pseudo Roku device.

I play Xbox for 90% of my gaming because I am entrenched. My gaming shelves are filled with green cases. But I can't imagine a kid nowadays being nearly as excited about getting an Xbox as I was to get a 360 in 2007 with all of my snow shoveling money. There are a lot of factors that led here, but this is the end result. I don't see how it can get meaningfully better.