Microsoft may divest some studios eventually but I think it’s stores in general that all this hinges on. Unfortunately again for Microsoft, Sony and Nintendo own the home console store space and Valve owns the pc store space. The only avenue, with limited competition, open to them is subscriptions.
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If they’re smart they just continue being third party and have their own pc store where they can hopefully make some headway.
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I don't think they care, technically they have 4 stores right now. MSFT store, Xbox, Blizzard/Activision & Bethesda are all launchers on PC. Further proof of that is they are slated to have all of their games on the Steam store within a few years.

Tells me they care more about aggregate sales.
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