The kinds of games Sony makes have gotten bigger and taken longer to make. Taking longer to make means you get fewer of them. There were three Uncharted games and The Last of Us between 2007 and 2013. Naughty Dog today hasn’t put out a new game since the PS4. When Sony spends $300M on Spider-Man 2 but they’ve actually sold fewer PS5s than they sold PS4s at the same point in the console lifecycle, you need to start getting your money back in other ways, like porting the game to PC. Helldivers II is a Sony joint, but the vast, vast majority of its sales came from PC, not PlayStation, and now it’s even on Xbox.

Exclusives are just going to be less and less of a going concern as time goes on. As for what Sony’s studios are cooking, Sucker Punch has a game this year, Intergalactic from Naughty Dog is at least a year away (but probably more), Sony Santa Monica still has their sci-fi project that Alanah Pearce wrote for that still hasn’t been announced (so likely at least a year away), Guerilla “just” put out Horizon: Forbidden West in 2022 (meaning at least another year on their next game), etc. At this point, all of the pent up projects from these studios are looking like they’re going to attempt to sell a PS6, with the same cross-gen situation we got for the PS5, where it comes out on both. Combine that with the talk about there being two SKUs of PS6, one of which being a handheld, acting as a Series S to the regular PS6’s Series X, and that’s what Sony’s output looks like to me. That, plus the collapse of Bungie following Marathon’s release and the collapse of Haven Studios regardless of whether or not Fairgames even comes out.