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The mascot is Kratos, since PS2 era. It's the most well-known character and is the game that most associate with PS. Drake isn't as famous, for a lot of people he is the Uncharted guy. Sackboy is a good mascot, but Kratos already took his place.

A mascot don't have to be cute. It has to show what the brand means. Ninty is more "the cute way", so we have the simpatic Mario. MS is more the multiplayer side, shooters, so they have Master Chief. Sony always was about bringing games for adult people, so Kratos is the guy. Besides all that, hell yeah, he is badass!