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NYCrysis said:
Sony is spending that money on more 1st party exclusives than M$. Sony will have 20 1st party exclusives 12 being new ip's in its first year vs. M$' 15 exclusives 8 being new ip's. M$ blew through most of their exclusives at just this year's e3 while sony still has so many more to come possibly at tgs, (Naughty Dog at VGA?) and next year's e3 :D

Indeed.    M$ already used most of their assets at E3 to "Kill Sony"; and now in the upcoming months they wont get much new stuff to show; unless they begin announcing games that are for 2015-2016. 

Right now there are 5 1st party PS4 games announced; and I expect at least 2 more of those 20, that are coming this year, to be shown before launch.