Oh, the anticipation has gotten to me! I can't help but speculate what it could be, since they say its something completely new... I am going to guess that it's a sci-noir MMO. That's basically the only genre their game engine hasn't dominated.
What is EPIC's new IP!?
343 Industries is not a proven developer yet, is it? So lets not count on Halo 4 till its hatched. And yes, MS will be in trouble if they expect to launch a new console in a year or two with no strong stable of exclusives to differentiate it from Sony. I'm not saying the next Xbox could be a flop of GameCube proportions, but the momentum that MS spent a lot of effort building this gen could be eroded very quickly. Considering the Xbox division has been nothing short of a Cash Cow for MS in recent years, Microsoft would be really stupid to not do what they can to ensure Xbox's continued success. That means they better start investing in top independant developers.
If its multiplat then MS is in trouble. They have no good 1st party developers working on non-Kinect exclusives.
I don't think they really care. They're concentrating on making the 360 a do-all home theater box. Besides, there's nary a multiplat that doesn't dominate on the 360, they get the majority of those sales. If they can make a good amount of money renting movies and such to people, they don't need many big exclusives. And it looks like it's working pretty well.
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