To be fair, you are excusing MS for their lack of first party games, because games take long to make? That's not a great argument.
No, not at all. Its clear they have made mistakes and have planned things badly. Shutting down studios and having a focus on the wrong types of games, things like Scalebound and Fable? Those are mistakes. But games take time to make. So lets say a year ago, they woke up and went "oh, bugger me, PlayStation has quite a fair few good exclusives, how did we not see this coming? Lets make some!". Well, you wont be seeing or hearing about those games until next year at the earliest.
The whole "xbox has no games" thing is stupid. I have over 120 games for my xbox one. I have 12 for my PS4. How is that possible? I'm stupid? Blind fan boy? Nah, I just got the PS4 for the exclusives, but played the multiplatforms on xbox. I love the pad. All my friends and wife are there. We have multiple Xboxes in the house, so we can all play. Plus now, with the X, its the best place for those multiplatforms. Of course, I have Uncharted, Last of Us, Bloodbourne, Horizon and the like... I can't get those anywhere else... But I also have a really good PC. As a games designer myself, I kind of have to. Its the law.
So no, its on MS for fucking up and not making games at the right time. Its something they have always done. Look at Rare, one of the best devs in the business in yesteryear, who have been working on the same bloody game for half a decade and its still not out. The same team (though not people) who made some of the best games of my childhood... and they are locked away. But what do we know? They could be working on something else. you just don't know, its too early.
Mark my words... Next year is the make or break year for Microsoft. They will have the best console out, and will really need to impress. That's when they will start showing more off.
But they can make changes yesterday. The lack of ANY advertising of games that I can see is hurting them. I've lost track of the number of films I've seen that's had 3 or 4 Sony adverts before them. The lack of money hatting deals is also hurting them (although it makes me laugh that its ok now Sony is doing it, but when MS did it with COD, they were evil). Oh and the xbox one x price STILL stings. It should have been £399.99, or hell, take the damn hit and go £349.99. GANGBUSTERS.
Microsoft are in this position from their own doing. But people need to just shut up with the "xbox has no games" shit. Its getting old.