Ignoring the money thing which I'm sure is mainly lost of the hardware side of things not the game developers/publishers side.
Sony Computer Entertainment studios I think are some of the best in the world, some of them having Teams which rate higher then some whole developers. Sony also seem to invest a lot into new IPs and other developer studios titles as well, they had a lot of faith in Media Molecule obviously in the end buying them, buying out smaller developers and turning them into powerhouses (Guerrilla).
In my view they are doing the best thing, moving into a role of owning and developing their own line of studios and IPs not only to help the consoles they create but if things do go wrong and they leave the hardware side of things they have an whole legion of development studios to fall back on (Like Sega did) to rival that of EA and Activision. They are also helping other 2nd and 3rd Party studios forming great relationship with them
MS seem to have done the opposite. The could have acquired Bioware but didn't and Bungie have now left. They have disbanded 5 or 6 studios over the last few years.
Hmm, pie.
