Absolutely. But they want everyone to know they are using Windows, which if there was a custom shell then they wouldn’t.
They have >95% of the market, they don’t care about making a good interface for TVs as they already lost it to Android, and they don’t care about making a good gaming interface as they already have XBox.
Windows users are an inconvenience, that they want to milk.
They’ve also got the Xbox interface for controllers, the reason they don’t make Windows better for this scenario is that they already have XBox and making a SwitchBox interferes with their plan to make everything shit.