Like you pointed out, all very shiny but not much else. Rather ironic that MS products are a reflection of today's facile society, all gloss and nothing to show. As my old, late dear Grandma would say, "All mouth and no trousers!".
They need to give limited shiny stuff, works for OSX and Gnome, get back to making sure the engine actually works correctly. Work on a usuable UAC system, take a good long look at what is allowing the nasties to get in so easily. If it means cutting out the compatibility to DOS/Win98, then so be it. Sell limited cheap licenses for old XP/2K, fix fatal flaws only, if people want to stay on the old.
Start supporting today's sh*t-hot hardware, get the 64bit version up to spec, a lot of gamers out there with money to burn! No more 64bit as an afterthought. Yes I know most people are on 32bit, but for every 3 year old 32 bit system, there are an equal number of 64bit gamer systems being replaced every year.
What about a PAYG system? You get core system for nominal fee but it's yours. You want shiny extras, you download and rent them on a monthly basis. You want extra cores enabled? You pay rental on the extensions. Still works in the mainframe market and mini markets. PAYG you get clean simple builds without crap and if you want shiny crap you pay extra for it, MS still gets revenue. Although most people wouldn't use IE for free, let alone rent it!