My take on Lockhart and what I think it should be (if it's real)..
The approach of making Lockhart a weaker/cheaper Scarlett is, for me, the wrong one. It sends out a message of "I don´t have enough money for high end, so I have to settle with lower end). If anything, MS should provide possibilities for people to get into High End as easy as possible (the XBox all access is a good approach).
Now, I think that for Lockhart to be successful and differentiate more than Scarlett (and what also makes the lower specs more acceptable for people) is to make Lockhart portable, as the Switch.
This way, Lockhart offers something that high-end Scarlett does not do. And by having it portable, you offer another tier between Xcloud and Scarlett.
If Scarlett is the premium "cinema experience" (4K, 120fps etc), and Xcloud is like Netflix, Lockhart could be in between.
With Xcloud, for some people. the lag will be more present than for others, meaning that different people will experience Xcloud differently.
Lockhart portable solves this issue by being a portable hardware with games locally stored (and yes, it could also do Xcloud as well)
Xcloud could be the cheapest entry to play Xbox games, regardless of hardware.
Lockhart is the next step, you still want a more local/dependable Xbox experience that is also portable but at a lower price
Scarlett is the premium/cinema experience
The Switch is proving that a hybrid kind of hardware can be quite successful. MS could replicate the idea, with perhaps a more impressive type of hardware (RT in a portable?)
Now that MS has a respectable stable of gaming studios, and with Game pass and such, I see potential here.
But only if Lockhart is portable, it needs to differentiate itself more than lower specs/lower price and making it portable, makes the weaker specs more acceptable.
My 2c
