Didn't Microsoft say during that conference, Made by gamers, for gamers, I don't think this is true, it's more like Microsoft trying to dominate multiple markets all at once.
That's a big goal of technology though. The smartphone is a device that does everything all-in-one. You've got your calendar, texting, calling, email, weather, traffic, music etc all in one device. Shouldn't we have a single box under our TV that handles our blu-ray, streaming, cable-box and gaming?
The problem is (unless I'm missing something) the Xbox One won't be able to replace the cable box, just sit next to it. It would have to receive the coax signal from the satellite dish or cable provider. It says it only has HDMI, which means you'll still need the box from your provider.
Regarding games... they may not have any good ones yet, but this this isn't going to be sold until around Nov/Dec right?