There are flaws in this kind of "One company, one egg, one basket" strategy. Remember DEC?
There is a case in recent history of a large high tech company that did an identically structured pivot attempt, and demonstrates one end game of such a "one company, one egg, one basket" strategy. I fear that this latest restructure puts Microsoft in grave danger of following the same example.
I used to work for DEC, where 1957-1982 there were many customer industry focused product lines. Things like Engineering Systems Group, Graphic Arts (that's Newspapers/Publishing), MDC (Manufacturing, Distribution & Control), Education, Commercial OEM, Technical OEM, Laboratory Data Products, etc. Some 130 of them, all pulling on the output of Central Engineering and Manufacturing, then applying their industry knowledge to ruthlessly deliver excellent value to customers in their target industries. Each product line paid for the sales presence they needed down to office level worldwide.
By 1982, there were some concerns in the Exec Committee that there was too much "who knows who" horse trading of capacity in manufacturing, so they elected to move to the same sort of model that Microsoft has just moved to. That of "one company, one strategy, one architecture" model, orientated around the strategic core asset - VAX (in the case of Microsoft this time around, it is Windows).
Aside from a financial bath in the very first quarter, where all the cracks in the processes that the Product line structure papered over got exposed, the company really mushroomed in sales performance.
Unfortunately, while specific members of the Exec Committee started citing a date when they'd outgrow IBM in size (who were 7x DECs size at the time), DEC missed virtually every strategic product transition at the low end. Management hyped up attacking the high end with very expensive ECL chips, while the labs in Hudson had $300 CMOS VAX chips ready to go. The very impressive Prism/Mica chips (30x VAX 11/780) taped out. But an exec committee that kept on flip-flopping between 32 bit and 64 bit edicts into engineering, then losing patience with the delays they'd caused - and killing the very projects that were the foundation of the next generation CPU technology. Key staff left.
It took a further 5 years to get Prism/Mica out - adding a couple of instructions, fixing on a 64 bit address space, and calling it Alpha AXP. By then, the rot had set in. That Silicon was the fastest CPU in the industry by nearly 2x for getting on 10 years, but the company above it faltered.
Ken Olsen (co-founder) got deposed, and Bob Palmer (new CEO) elected to move back to a different divisional model. So, he had PC, Storage, Components & Peripherals to play in the now horizontally integrated markets, and a few vertical industry ones (Consumer Process Manufacturing, Discrete Manufacturing & Defence, Healthcare - may have been one more). However, he also got the salesforce commissioned (something against the traditions of the company), and introduced a "two quarters missed financials and you're out" ethos in the divisional heads.
These final moves were Digitals death knell. You either had a lottery on who didn't get fired, handing extra responsibility to those leaders who happened to string together two quarters of good sales (largely by seasonal industry trends rather than own performance). Or the panic stricken ones would stuff their distribution channels with stock, hoping that would delay the inevitable for at least one more quarter.
Following a few Bob Palmer legal stunts with Intel and with Microsoft, the company was sold to Compaq, having accumulated losses in Bob Palmers 5 year reign equivalent to the total profits of the company in 35 years under Olsen.
Given the above, I think Microsoft need to be extra vigilant not to go the same way. The new organisation structure will give them every opportunity to follow in DECs footsteps if they are not extra careful. The key litmus test will come when the company needs to move from Windows to whatever platform needs to come next, and I currently see no seeds planted of what that will be.