My guy, on planet do you live on where gamedev pays you $100K per month for an employee? Please let me know, I wanna move there. Lmao, cut that by x10, and even that is pushing it, and reserved for states like Cali, NY, WA and WADC. The avg median gamedev salary is $115K in the US.
By your "low-balling it" corrected (it's not) estimates, that $1 million per month per studio with 100 devs, $23 million per month for 23 studios (spread worldwide, without counting in different economies, inflation, avg median income and other factors), and $276 million a year on dev salary costs alone of all their first party.
That rough estimate (not even close to accurate) is very possible for Microsoft, for decades even.
LOL! 230,000,000 per YEAR!
MY BAD. Huge error.
Obviously not that much. However, given how much TLOU and similar games cost, I'd say that low ball of mine is very low. 343, for instance, has at least 300-400 employees.
Anyway, bottom line, if Gamepass was very profitable (not just "sustainable," whatever that means), they'd tell investors. They haven't, so I'm convinced it isn't.