God, this looks like it's going to be a massive pile of shit. I really do mean that, and as a guy who owned both of the previous Xboxs and really enjoyed them. IF I even bother to get a new console it will definitely end up being the PS4.
Why do you say this? Everything about it seems to be top notch, with the exception of closing the used games market for consoles.
There are a number of reasons, that can be summed up in this manner: There's a lot of crap that's bad for consumers, and because it is bad for consumers it is bad for Microsoft.
Actual reasons why I don't like: It's got a lot of "features" that are basically worthless to people living outside of the States, and hold no value to a number of people in the Xbox's core demographics, because younger people are cutting the cord on TV, and young people are the ones who are most likely to want to buy a new console. These sorts of features basically holds no value to us at all.
One time install bullcrap. The reason I love consoles is because it allows me to get together with my friends and a play a game together. Being charged a fee to take it over to my friend's house to play on his Xbox is asinine.
For another thing I don't even want to install a game on my Xbox. A reason people enjoy consoles is because they can just pop in a game and play without having to worry about installing it or running out of space on their hard drive. 500 GB can go pretty fast when all you're using it for is games and movies.
Forcing you to be online without forcing you to be online: Let me explain myself on this one, because otherwise it would make no sense. MS says you don't need to be online to use their system, but how else are they going to confirm that this you haven't installed your brand new game on a different Xbox? Answer: They cannot. So either their ridiculous DRM system does not actually work, or they really will force you to get online at some point.
Plus, don't forget it's not backwards compatible.
To sum it all up I'd rather just stick with a PC which can do most of the same things the new Xbox can, is upgradeable, not bogged down with an atrocious DRM system, and can play all my old games.