Problem is is that MS isn't even in a console war anymore.
I was going to say something similar in regards to Xbox entering the industry when it was already fairly mature. MS has the unenviable task of having to compete with two extremely entrenched competitors. We live in a bubble where the Xbox brand can be said in the same breath as Nintendo and PlayStation, but globally, the Xbox name doesn't carry that far - Nintendo and PlayStation are like Coke and Pepsi in terms of brand recognition worldwide.
When MS got into the console game, I don't think you could say Sony was extremely entrenched, since they were just coming out of their first console generation. Granted, Sony was clearly the front runner at that point, but MS was arguably at the height of their "embrace, extend, extinguish" philosophy. With a war chest bolstered by Windows and Office revenues, they figured they could force their way into the console game. If Sony could swoop in and take the top spot, why couldn't they? They were well behind Sony their first time out, but reloaded with the 360 and they may have been the overall console sales winner in North America that gen, even beating out the Wii. Doesn't look like there are many sources for US/NA console sales for this gen, but it seems like XB1 isn't that far behind the PS4. MS's problem with the Xbox brand is making inroads in Europe and Japan, which was mentioned.
Perhaps MS isn't in a "console war" anymore, but taking a page from Nintendo's book. As long as they're profitable, Nintendo doesn't care what Sony or MS might be doing, and they've been pretty consistent with that. There have been some blips (Wii U), but, as they say, Nintendo gonna Nintendo. They have hands down the best stable of franchises in the industry and can use that to keep them going regardless of what others are doing. If MS is fine with their profit margins and stock price based on being more service oriented than hardware units pushed, then what do they care about what Sony and Nintendo are doing? Maybe some occasional tweaks on social media, but the competitiveness is mostly people on the Internet talking about which side is "winning" without really understanding the true game being played.