Here I'll put it nicely. Those franchises aren't Sony's and there is no reason they should be exclsuively on Sony platforms. It is not Sony getting bullied by Microsoft. Sony made the decision early on to allow third parties the position to drive hardware sales. Sony's lack luster first party titles were not used as the pinnacle of the PlayStation brand. Why is it when you think PlayStation you think Final Fantasy and GrandTheftAuto while when you think Nintendo you think Mario and Zelda, or when you think Microsoft you think Halo.
Also just so we are clear Sony entered a long term agreement with SquareEnix to publish their titles exclusively for ten years. That agreement was paid for by Sony and only recently ended. Microsoft trying to get Final Fantasy and GrandTheftAuto titles on their consoles is no different. I mean we could argue that Nintendo let Sony bully them out of franchises like FinalFantasy. Fact is Sony has paid for the third party content in the past you can't picture them as so self righteous now!
In my opinion Sony should take the fifty million they saved on GTA and the millions their saving on Final Fantasy and use those funds to create their own IP's. Give us some new Sony franchises to buy build the Sony brand. If Nintendo proved anything its that third party support should always come second to first party strength.
If Sony's inhouse titles suck, then don't buy third party support improve your first party titles!