If Microsoft hoovered up Nintendo and all the other companies, leaving Game Pass with little competition, they’d flip in an instant.
And if I had $100B, I'd buy Nintendo, but Microsoft can't buy out that much of the video game market either, especially after Activision got through by the skin of their teeth. Activision happened because Nintendo didn't.
Nintendo is bad for game ownership right now. Live service games like Diablo IV are bad for game ownership right now. I don't care what Game Pass might be one day. The second it becomes that, you can guarantee I'll turn on it.
...potentially worse because they have more ‘exclusive content’ to lock-away in their garden and they can force their BS into Windows.
I'm a Linux guy. I was fearful of this for a long time, but it didn't take, and Microsoft clearly abandoned that strategy of trying to make the Windows Store happen for games. Even Microsoft couldn't force you to give them a larger cut of the PC gaming pie. Right now, they're struggling to increase Game Pass numbers beyond their ~30M subscribers even after they've added numerous publishers and developers to their catalogue in perpetuity, because, to my surprise, people can do math. The ones that the math works out for is probably not much larger than that 30M.
Sony is in a dominant position in the market. Xbox doesn't threaten them hardly at all. Even Sony isn't keeping games entirely exclusive anymore, probably because enough people like me did the math and found out that 4 exclusive games isn't worth having a $500 machine collect dust next to our TVs, so now their games get PC ports. These business models only turn to shit if you let them. We can live without all of them, so they're all optional. Don't give them money when they offer a bad product, and we'll only get better products.