Hundreds of layoffs and many cancelled projects later, Xbox CEO Asha Sharma reportedly says 'we will not survive' without new IPs

Thousands of layoffs, a couple of booted studios, and a re-organisation of Obsidian away from its newer projects and onto Fallout later, Xbox CEO Asha Sharma has reportedly taken to an internal town hall and talked about the importance of new IP.

The transcript, as shared by Windows Central, goes as follows: "We're backing our strongest franchises. I want our great games to become great global billion-dollar franchises. I would also like to see us continue to create enduring new IP. We will not survive if we only revive [sic] on the past. We have to find new ways, and courage, to have invention on new IP, that reaches new sets of audiences."

This is, to put it gently, very confusing. As part of Xbox's "Reset", the studio has done the following:

Cancelled multiple projects from Obsidian and told it to go make a Fallout game.

Did the same to South of Midnight studio Compulsion Games.

Is, at present, in …