Microsoft is betting the company on the rich client.
A rather long article with which I largely agree: Joel on Software - How Microsoft Lost the API War
This quote is a zinger - if true somehow I had missed this entirely:
The big meme at Microsoft these days is: "Microsoft is betting the company on the rich client."
If true this does explain a number of Microsoft's recent actions that are otherwise puzzling. If true this could indeed be Microsoft's first cosmic-scale misstep.