Under Balmer, Microsoft was stuck on the idea that Windows and Office defined their market, and any strategy had to enforce their centrality.

Nadella realized that Microsoft's actual market is Business Software, and is attacking the modern software categories in that market.

Azure is the biggest example. Using their customer base and channel to sell cloud computing. Github and LinkedIn as acquisitions fitting this strategy.

Lists seems to compete in some ways with Trello and JIRA, recognizing this as an important Business Software category Microsoft can compete in and leverage connections with other Microsoft software.