Taking a look at MS and Sony's strategy when it comes to acquisition of exclusive contents, one can identify two distinct business models.
Microsoft is shrinking its inhouse developments, dissolving studios and using its availible resources to acquire third party exclusives, timed exclusives and dlc. It probably all comes down to cheaper operational budget which can hypothetically translate better resource allocation for MS, thus giving it the ability to acquire more contents than they could otherwise with their own studios.
Sony by contrast have used their resource to acquire more and more studios, thus generating a gauranteed quota for exlusive games, this seems more costly in the short term due to the ongoing operational cost in running a studios but could hypothetically be more worthwhile in the long run as talented studios are gauranteed to continue making games for your console.
I am not a business analyst, so from a business prospective I can only see this through an amatour's eyes and conclude that MS's model is more sound and cost effecient. But as a gamer, I much prefer Sony's approach, as it gives me a secure expectation that a fantastic studio (Naughty Dog, Santa Monica etc) is always making a new game for my chosen console. I believe this to be irrational, but its something that I cannot shake.
From the perspective of a gamer and/or a businessman, which approach do you think is better?