I think Microsoft fumbled hard in the second half of the generation. This could led them to a lead position into the 2010s but the push for Kinect and less and less of quality on their main titles, alongside few or none third party exclusive titles, give much much room to the Playstation 3 gain traction again.
But in any case, it's a impressive machine to this day and super influentional. Online gaming is what it is nowadays because Xbox 360 (for good or bad).