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When the majority of your first party studios are struggling to produce good games with the exception of Turn 10, 343 and their new studios, eventually your going to have to find talent through 2nd and 3rd parties.
If Microsoft can get some well known franchises to be exclusive to Xbox such as sports games than Sony may have some issues countering that. Especially if MS can get some of EA's popular franchises to be exclusives on it's console, it won't bode Well for Sony.