I think it’s fair to see the Xbox as a Game Pass box in the short to mid-term, yes. Microsoft’s efforts have been focused on getting everyone on Game Pass, be it Xbox, PC or Mobile (and they would love for other console manufacturers to have it as well).
They are selling Xbox consoles at a loss and are only recouping money on games and Game Pass subscriptions, now that neither Nintendo nor Sony is onboard with bringing the latter to their ecosystem, might as well port their first-party games to competing platforms to make more money.