AoE and realistic stories aren't things which go hand in hand, and I am speaking as someone who really, REALLY likes AoE 2.

And the answer to OP is: probably not.

This is one of the earliest games I remember looking just incredible in screenshots, so in that way it holds a special place in my heart.

That said, in a ranking of the Age series it's in the middle:

(My Personal ranking, assume complete editions of all)

1. Age of Mythology
2. Age of Empires II
3. Age of Empires III
4. Age of Empires

A lot of the mechanics they introduced in Age of Mythology did not carry over meaningfully to AoE III if you ask me (like the bonuses from aging up, the sheer expense of many of the basic European and mercenary units felt steep compared to AoM where expense felt in proportion to effectiveness) and I would even say the graphics did not age as well as AoM, but that is just me.

It is worth playing because of the setting and the AoE gameplay is still basically classic RTS gameplay. However, unit variety is somewhat hampered by the setting (gunpowder units tend to dominate for obvious reasons while adding on to that levels of precision unthinkable for the actual period). It may seem reasonable to buy Longbowmen but they are outclassed fairly quickly and are weak against cavalry, something the musketeer is not nearly as vulnerable against. Also, it feels funny having trains rolling by on the one hand and still having to spend large amounts of resources to upgrade pikemen. While the destructibility was nice for the time of release it quickly loses some of its fun factor when you realize the damage models are not quite as dynamic as first glance made one think. Also, this game is susceptible more so to "blobbing" than others (i.e., formations disintegrate into mobs descending on a single target so the volley fire tactics do not really apply).

The ex-packs add a lot to the game, both of them. The Native American civilizations (except the Aztecs for me) are unique feeling as well as fun to play while not feeling inferior to their European counterparts and have very useful bonuses. Similarly, the Asian nations are all good too (China was the least fun for me, but unlike the Aztecs they got a reasonably fun campaign) with my favorite being Japan. The ex-packs add five campaigns to the three from the base game and each of them, while predictable, are worth a run on their own.

Do you have a source for this? I didn't know this thing happened.

It would also be interesting to know who refused the idea assuming this wasn't just a rumour. I mean, I'm guessing that Valve and GoG wouldn't have said no - so potentially Microsoft.

soon come the 4th ,so play it while you can

Let's just say I heard it directly from someone involved with the definitive editions. :)

Microsoft has very specific visions for their games which different groups at the company have a hand in. (in this case they are clearly building to AoE 4 which was originally slated for a 2019 release). A DRM-free product, even a 20+ year old game, seems to go against what they are currently pushing for. Microsoft originally didn't want the first definitive edition on Steam - only the Microsoft Store. It sold well for the Store, but much less than they hoped for, so they eventually relented and released on Steam.

^ Sounds like the same morons who were in charge of Quantum Break, a game released as a DX12 + Windows Store Exclusive. Someone asked before launch if they planned a Steam / DX11 release and W7 compatibility. "No. DX12 + MS Store only, it'll never work on W7". Then it sold so badly it was magically re-released on Steam and its DX11 API amusingly ran +20% faster than the 'proper' DX12. Microsoft. Microsoft never changes...