It's funny how when they were released Xbox One was absolutely slated as being inferior to the more powerful PS4 which was clearly designed for the gamers, apparently now that no longer matters.
I actually think the additional capabilities are more interesting long term. Given the backward compatibility of Xbox, if MS were to include first year Gamepass and even XCloud with the hardware they'd have a pretty compelling catalogue of games for gamers moving from PS4 and quite a compelling offer for parents at christmas as kids get more games than they know what to do with from day 1. They'd need deep pockets but that could be an absolute killer baseline offer if you then add the superior power for new games as they arrive.