Don't underestimate Microsoft. They're now where Apple was a decade ago and look what happened. Their products today are completely banal, but there's always another Next Big Thing around the corner. Apple and then Google jumped at the last Next Big Thing (computer-wise) while Microsoft, RIM and Nokia stumbled, but the last two are more likely to go completely under than the former, since that's all they do.
I'm not going to apologise for the schadenfreude of seeing Microsoft flounder, after more than a decade of jabs from Windows-loving co-workers who honestly believed that Microsoft bought Apple in the late 90s, many of whom now have iPhones, iPads and even Macs and come to ask me for advice and help (while I've still never bought a single Windows PC). But dismissing them would be a mistake. The same mistake everyone made a decade and a half ago.
Whether Windows 8 or Windows Phone 8 is any good (I hear it's an unintuitive skin for what is otherwise little more than a Windows 7 Service Pack) is not really the point. They're willing to take big risks, and sometimes when you fire big shots into the dark, even if you don't hit something fully, you sometimes wing it.
It'll be interesting to see. Microsoft doesn't innovate so they probably won't be the ones to come up with the next big thing. Usually they copy so they will come to the market late with an inferior product.
I believe in 20 years Microsoft will not be as relevant as they are today. They truly need a change at the top.