FF16 being some kind of Monster Hunter World moment for the FF series (which is what I think Square-Enix was hoping for) looks like it's been a fairly big bust.
I think they are going to have to swallow their pride and pivot towards supporting the Switch 2 with day/date or close to day 1 releases for mainline FF games if they want the brand to stop declining. Yes, I'm saying Final Fantasy 17 on Switch 2 alongside PS5 and XBox.
A series that requires sky high production values but has declining sales is not a good combination.
Clearly the Playstation alone is not going to do it, they've been banging their head on that wall for a while. Even FF7 Remake ... the sales aren't what you'd expect for a game that hyped (I remember lots of people online acting like it would crush Animal Crossing in sales ... lol).