I tried Minecraft on the rep that it was a first person version of Dwarf Fortress without the complexity, aka dumbed down, and found the description to be quite accurate. It's not much of a game on its own; more like a basic platform for further game creation. However, this platform is open enough to allow for numerous interpretations of the same basic concept and, while hardly limitless, varied and interesting reiterations of the same basic mechanics. Now the brand name essentially encompasses a game concept, in itself hardly that original, but recognizable enough to the public that any any attempt to imitate its core mechanics is branded a "spin-off". I wouldn't attribute its success to luck as much as player accessibility, as even the lowliest retard is capable of punching a tree or building a hut out of dirt, and modder accessibility, allowing the game to go beyond dirt huts into space travel, magic and nuclear reactors. DF will give you neither, despite the obviously larger scope and deeper complexity.
Also, Minecraft is a multiplayer franchise. It's basically a fucking MMO with mod support. I can still recall the hassle of customizing UO servers, which generally meant swapping some assets around -- forget total conversions or adding space lazors to the game. Here you've got everything from servers aping Q1 deathmatch arenas to Harry Potter.
At this point, Microsoft could just throw some money on a noticeable graphical overhaul and resell the game. Modders might presumably find themselves unable to keep up with the new engine standards, giving M$ further exclusivity over developing new game content -- basically reworking already fleshed out community ideas and package them off as DLC. For consoles, obviously, there's no other choice.