Meta's headset is Android based so it has 18+ years of low power, ARM performance and power tweaking. And Apple is using their in-house M series chips.
Microsoft's bread and butter is B2B; Azure, Office, etc. The Xbox and consumer divisions are just too small to take on high cost, novel devices. They've historically not been great at branding or marketing direct to consumer either. (Zune, those Microsoft store commercials, etc.).