Nothing shocking or exciting, but it seems like a very good upgrade on the Xbox One X, and like it’ll push PC gamers to improve their PCs for a year or two after release (though it seems like it will be less powerful, in game, than a current system with a decent CPU, 16GB of fast ram, and a 2070 or better). It looks like the main trick they’re aiming for, which a lot of otherwise-powerful PCs don’t really offer, is the ability to near-instantly get into games, to have even less loading than a PC with a decent amount of memory and an SSD (many people actually use relatively slow SSDs, because the distinctions between them aren’t much recognised by most PC gamers), and to instantly resume games too. Indeed the latter feature is interesting because it seems like it might be possible to extend it to Windows 10.
These sort of characteristics will matter if streaming becomes more of a threat than it currently is because the main edge streaming has is this instant access (the Stadia having not made much impact yet, with wildly inconsistent performance in a variety of ways and total lies about 4K - it’s certainly not going to provide the “4K maxed settings” experience it could have, not without Google re-engineering it).
Terrible fucking name though, classic Microsoft. Also I’m getting a weird “Dreamcast” vibe off it and I’m not sure why.