While the analysts in question obviously have an agenda to push, the Xbox project is not profitable for MS and it doesn't bring them any additional benefits for other parts of the company.
I think the difference going forwards is that the Bone is set for profitability from the outset, but that is going to limit the appeal against Sony who have stuck to their PS2/razor blades model and priced PS4 20% lower.
Additionally, the PS4 is better aligned to Sony's business portfolio than Microsoft's. PS4 helps Sony push certain standards, it helps them push their ecosystem of streaming services. If they get their act together they can use the PS4 halo effect to sell Xperia phones and tablets and even Bravia TVs as all of these products are somewhat related to PlayStation. Conversely, I don't see an area where Xbox helps Microsoft sell their core products, they have a virtual monopoly of both operating systems and productivity software at the consumer level, hamstringing the Bone with the Windows kernel isn't going to make any additional sales for Windows and productivity software is unsuited to the environment.
Skype is really the only beneficiary, but I it is in their interests to be on the PS4 as well, the Bone is just another device with which Skype is compatible and because of the integrated webcam it makes for a decent experience.
So therein lies the problem, Xbox as a division is not aligned to Microsoft's business portfolio, and whether these losses exist or not (I would be inclined to believe it given how massive Android patent royalties are for them from Foxconn and Samsung alone) the long term future of Xbox within the Microsoft stable needs to be looked at again now that Ballmer is on his way out.