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Because it's the most exhaustive blend of games from Western developers and Japanese developers. Microsoft is typically lacking in Japanese support, and Nintendo lacks a lot of AAA third-party games (Japanese or otherwise).
First-party games do help. Gran Turismo, God of War, Uncharted, The Last of Us, etc. But they are merely a contributing factor and not as essential to Sony as they are for Nintendo.

Lifetime Sales Predictions 

Switch: 144 million (was 73, then 96, then 113 million, then 125 million)

PS5: 105 million Xbox Series S/X: 60 million

PS4: 120 mil (was 100 then 130 million, then 122 million) Xbox One: 51 mil (was 50 then 55 mil)

3DS: 75.5 mil (was 73, then 77 million)

"Let go your earthly tether, enter the void, empty and become wind." - Guru Laghima