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Xbox's biggest crisis right now isn't games. It's hardware. (Opinion - Jez Corden)
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Soon. Their acquisition of Bethesda and now Activision will push a lot of in-demand titles to Xbox and PC going forward. They'll be a lot more "competitive" with Sony now.
I'm skeptical, because they had Halo, Banjo & Kazooie, Conker, Perfect Dark, and they don't seem to know what to do with those. Killer Instinct 2013 was nice but it's been a decade we don't get anything else from that. We are only now getting to see some of the projects from the newer studios they have been acquiring, but Redfall definitely didn't get my hopes up.
Are they gonna keep buying publishers whenever their output dries up under them? Is the problem really a lack of studios or is it that they can't manage them well.
Their management kind of sucks but that isn't rare in games publishing. Publisher make insane moves all the time. Unfortunately for MS, from your list only Halo is relevant and that has had rocky releases for quite a while. Now that they can sequester Bethesda and Activision games they can probably be hands-off and just wait for exclusive sales to come in.
That definitely doesn't inspire confidence, especially when, for all of Sony's sketchy deals, their first-party games are consistently good.