That's true, at least partly, because it is never too late.
It is only true in that they have already sold off/dissipated their former mobile assets, fully irreversibly mostly on the hardware side. Annoyed a lot of good people by doing that and there is no easy way back, that’s right.
The mobile OS itself is still quite competitive with or without minor adjustments. So, if they wanted, they could easily come back by offering it in licensing mode (without hardware, akin early Android), writing a couple of solid productivity apps, offering support for writing main media/comm apps etc.
The point though is, their 'leadership’ made a way more drastic decision; as I was outlining earlier the current matter in question is their OS making (all of it) as such and all the consumer space.
Another point is that the 'leadership' needs to be informed of the opinions of some of the longest-term company's customers. By the way, before on Microsoft forums there used to be some very friendly atmosphere for discussions. Acceptive of ideas and opinions. Nowadays, some have been sleeping for decades probably to wake up suddenly in democratic society where respect to an opinion of others is taken for granted to their surprise. Even if it’s coming from what they consider as a minority. Disgusting! Even more disgusting, they have a title of ‘moderator’, almost unimaginable. Quite reflective of what the company becomes though, so still useful to know.