Resistance was another attempt at a Playstation "Halo Killer" that I remember from back in the day; I actually enjoyed the Resistance trilogy quite a bit personally, but its fair to say it never managed to reach the same ballpark as Halo.
At any rate, I think trying to specifically "kill" a specific franchise is usually a bad strategy. Both Sony and MS are better off when they do their own thing instead of trying to copy each other's successes.
And while PS5 will still win this generation, MS is definitely in a position to win back significant marketshare if they play their cards right.