I totally expect MS will eventually do the standards work and get Nintendo and eventually Sony to go along with it.
Centralized and decentralized. The big issue is information gathering and security. You want it to be open so everyone can build games with it. You want it to be closed enough so that certain aspects aren't open to exploitation.
You do it good enough and it could become the standard across all services. Not just consoles, but all games and PC storefronts, as well.