It seemed like that was that in Fall 2021 when Microsoft shuttered their backward compatibility development with one final and substantial wave of releases. One need only look at the percentage of games on their legacy platforms to understand just how incomplete their work on the project is, however.
On the surface level, the mission statement of the new Xbox preservation department is pretty boring and unambitious. However, it’s positioned to do some pretty impressive stuff, provided the gaming public is willing to hold them accountable to shift their focus onto it.