Playstation on the whole remains an excellent platform as far as I'm concerned. But limiting this to first party, it took a nosedive starting from the PS4 generation or even before it.
Modern "Playstation-ey" games aren't really Playstation-ey by PS1, 2, and arguably 3 standards, because they comparatively lack in diversity and productivity. In the old days, Playstation fans often bragged about Sony actually being more diverse than Nintendo. No one says this anymore outside maybe art-styles. I'm not saying all their games play and feel the same, but they're not nearly as varied or productive as they used to be. In this respect, PS1 > PS2 > PS3/PSP > PS4/Vita > PS5. In my opinion they got worse every generation.
I like how Veknoid Outcast puts it; that we can define a Playstation-ey game at all is a shame. But honestly, it's understandable when you look at how much popular and successful Sony's standard modern game is. Shadow of the Colossus, a PS2 defining game and an all-timer, sold like 2 million copies. So their new focus is for the most part justified from a business standpoint, people actually buy their new stuff. I still appreciate that they really tried during their 2 best generations.
On the bright side: Stellar Blade, AstroBot, and Helldivers 2 releasing in the same year gives me hope that they're improving. Returnal and Saros also have a unique feel to them that adds some needed diversity to their lineup. And Marvel's Tokon is self-explanatory.
