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I really don't think this will hurt Sony nearly as much as some are making it out to be. COD: Warzone will still be supported on PS and that makes more revenue than the mainline CoD games. We still don't know exactly what will be exclusive or not going forward. With Bethesda it was easier to predict since they predominantly make single player games. MS may take a different approach with Activision.
For those saying, this ruins the competition, I think it's the opposite. This will actually make Xbox competitive with PS. Xbox is still getting their ass kicked by PS. Not nearly as bad as last gen, but still losing. As long as Sony keeps making the games they make and doing what they're best at, they'll be fine.

Activision was looking for a buyer one way or the other. I would rather it be MS than Tencent, Google, or FB.