Earlier quoted context omitted.
"since everyone - including Microsoft - knows that a ubiquitous Web means fewer sales of Windows and Office" I would think that the real problem is Microsoft's unwillingness to become something completely new, something other than Windows and Office. Apple was a computer company, then it became a cell phone company, a music company, a lot of other things. Microsoft now sort of reminds me of Sun circa 1999: yes, they…
It seems very unlikely that they will be able to depend upon Windows and Office as their primary revenue stream for very much longer, so their survival depends upon being able to go into new territory. They've done this to some extent with games, but have been struggling to compete with mobile.
Though that might not happen before they've spent too much of their reserves (and don't have enough coming in) to do it.