First, I do not think they've failed miserably. I feel that the conference wasn't for me, I'm European and most things seemed catered to a US audience. Granted, it's at a US conference, but I'm not sure that I expect it to change dramatically in Germany.
The Forza showing was specially playing to the home crowd, a Ford (a nice one for sure), and former glories. Then we had things like Halo, which is still very much Halo - not sure why I expect any different. Big space marines. Gears of War, same again.
Then more shooters (not that I hate them) Rainbow Six Seige and The Division.
I don't know, the conference FOR ME, was playing to the crowd and was a by-the-numbers Xbox conference.
Again, nothing wrong with that! Just quite simply, not for me.
The biggest thing was backwards compatibility. I expected more.