Don't think so. But Microsoft has some serious cash. Shit, it wouldn't surprise me to see Age of Empires on the Xbox. And some other cool games, like Flight Simulator.
I agree that GameCube is going to be a top seller. But Xbox is doing well so far - they've both sold out. Though I find it easier to find GameCube's around here, but that's because Nintendo made more. It was hard as fuck to get an Xbox - I called probably 20 stores, about 10 had them in the morning (11:30 am)... by 4:30 pm, there was only ONE left at any of the stores... luckily, I managed to reserve it and get down there an hour later to snag it.
Dead or Alive 3 is, to put it gently, a mother fucking best. The load time between fights is literally about 1 second (aka, nothing at all), the levels are INCREDIBLE, the models are INCREDIBLE... the control is tight. It's awesome. One really has to see the levels though. WOW.
Like yourself, I'm shocked that Sony isn't hyping it more too. 'Cause Final Fantasy sure as shit sells systems. MGS2 does too though.

Or at least, it will for me.
Anyway. I think Microsoft will manage to get a good bit of games out. If they fall flat on their face, obviously there won't be any games for it - but then, there will probably be more developers for PS2 & GameCube, which means we should eventually see prices drop there so companies can sell, 'cause there will be more competition. I think Microsoft's entry is definitely a good thing, especially if they can take advantage of the online playing segment. Xbox is a very well thought out product. You can come over and play if you want