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Otter said:
Almost all of the franchises that made playstation what it was back in the day are still here (Final Fantasy, MSG, Tekken, GT), they're just less popular. Most importantly they're 90% third person companies.

First party wise their studios are almost the same.

Exactly my view on it, it wasn't Sony's decision for Japanese 3rd parties to produce less games or for them to be less successfull. But people want somebody to blame.