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I think this is about right. About a quarter-century ago, airbus finally became a manufacturer that could go head to head with the 737 and win more often than not. Since then they’ve generally gone from strength to strength while Boeing has been primarily concerned with financial engineering.

It is quite simple, they had the more recent cleansheet single aisle airframe design with enough ground clearance for modern high bypass engine designs. This has baked in a lot of inherent efficiencies including manufacturability meanwhile Boeing leadership refused to invest in a 737 replacement needed in the 2000s.

Don't forget the greatest stumble with the Bombardier CSeries.

I feel like if Boeing shut their mouth and bit their tongue at a little casual dumping they wouldn't have ended up with Airbus taking over the CS100 and adding yet another directly competitive aircraft into an "all Airbus" lineup that Boeing didn't have.