I’ve been recently thinking the same thing and was wondering why no one seemed to talk about it. I think, while the gaming market is very important to Microsoft with regards to PCs, it basically has no leverage. Gamers won’t switch anyways, Windows is ubiquitous and studios are just committed to what means minimal support at maximum profit, so they target Windows. Apart from Valve, no publisher or studio has any credibility when threatening to move to another platform, and Valve won’t do it because they’re basically a store that develops a game from time to time. So MS can do whatever they want and anything gaming related will swallow it anyways.
With that in mind, I do hope that MS removes the privileged interfaces and all kernel level anticheat dies with it. Studios will cry, but that’s all they’ll do, and in fact, they wouldn’t even have any option at that point; there’s no alternative offering anything similar. Even Apple doesn’t offer privileged access to 3rd party developers, which is why for example while mandatory for Windows gamers, Riot’s games can be played without any kernel level anticheat on Mac.