Considering how the PlayStation has dominated the market without messing around with branding like that, it seems like MS dropped the ball by bike-shedding the name instead of nurturing quality content.
<ArmchairExecutive>
Personally, I think Microsoft should have put way more effort into polishing their Kinect user experience. The X-bone could have been everything that the Echo/Siri/Google Home ecosystems evolved into if Microsoft had just worked harder on polish up front.
Instead, Microsoft pretty much alienated their core gaming base in order to half-assedly fail at a broader goal. They didn't even manage to push through more than a couple of decent Kinect v2 games </ArmchairExecutive>
I still think it was an awful branding decision, though.