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I don't think Playstation as a brand is doomed. For Sony, Playstation is too important a brand to let go. It's the last major brand they have left where they're still relatively competitive and need it to thrive.

I actually think the Playstation brand would live in in some way even if Sony went under. It's still a big enough brand that if another company wanted to get into the business, buying the Playstation group/brand would be an easy way in.