Anything which shakes up the competition can only be a good thing for the consumer. Phil Spencer has really managed to turn things around for Microsoft since the abysmal launch of the Xbox One. Hopefully Sony and Nintendo are taking notes and move away from outdated business practices and technology (particularly Nintendo).
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I'm not sure it's a good idea. It might make Microsoft way too big and some other company might complain and then they are told to split up their business.
Also if this does happen it might put the price of games up even more then they are now.
I can see jobs going and places either shutting down or moving elsewhere and relocating the staff. It always happens when some big company takes over another big company. Jobs go and people suffer.