So does Sony, that's why PlayStation Now exists, and is still expanding. It's a service that while not very popular or profitable now is being used to build the foundations of their cloud-gaming future, post-ps5.
Yes but can PSNow compete with MS's infrastructure worth over $15billion dollars? Yes its not all for gaming however last time I checked Gaikai cost Sony $380million.. that's a considerable difference in pricing. That's a huge chunk out of Sony's pocket if they dare to invest similar to Azure.
Maybe in the next few years Cloud services might become cheaper for Sony to invest heavy into it or they might just rent out Amazons services.. or Azure for laughs etc.