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I think they have very little to show.

Due to Sony's first party having a quiet year, and Japan being slightly slower to transition to new consoles, people have forgotten just how big the gap is between how many console exclusives end up on Playstation compared to Xbox. Sony have enough that they can have a big presence at 4 events this year, MS don't have enough exclusives to do the same.

The next big exclusive for X1 is nine months away, so they haven't got upcoming games that are almost finished like The Order and Bloodborne to show off. So it looks as though they would rather not bother than have another CGI trailer for an already announced game or at best, a very shot gameplay clip