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The introduction of a new gen was never held back by events focusing on previous gen consoles.

Not holding a PSX this year? Ok. Not even being at E3? That's not ok.
I can get they not doing a press conference, but not being there altogether? It just doesn't make sense. If MS has enough stuff to show at E3, Sony has have at least as much.
They got to be preparing something (not PS5 related) next year, otherwise, missing E3 just doesn't make sense.