I would argue that MS WAS dead under Balmer, but not only for the reasons that PG mentions. However, it has been resurrected under Satya.
One of the most common biases I see in how we assess leaders is how we try to attribute success & failure to a single person at a discrete point in time (ex: Here in the US, the extreme Left claims Trump is taking credit for Obama's foundational effort for the economy while the extreme Right says it's all Trump). In reality, it is never that simple nor discrete but rather complex and continuous.