The only way this could go well for consumers is if they could manage to negotiate fewer exclusives from both Microsoft and Sony, and I don't see that happening because they'd likely rather gamble on the chance that their exclusive would be the big new IP that makes them billions. So we're really just gonna see more games become exclusives.

It sucks. Exclusives are just bad for consumers, period. Doesn't matter if it's Nintendo, Sony, or Microsoft. They all just reduce how many options consumers have unless they're willing to shell out hundreds for a new console. Personally, none of my consoles are chosen because of some trait of the console; they're all just to play exclusives. Not even the Switch -- I didn't buy that to play games on the go or have motion controls. I bought it to play Animal Crossing and Zelda. If I could have played my Switch games (legally) elsewhere, I would have.