All companies are guilty of milking their top franchises, otherwise we wouldn't have Gran Turismo 6, Halo 4, and New Super Mario Bros. 2. It's what they do with those games that actually makes them better or the same iteration with every entry. I think Sony takes greater risks in regards to new IPs over the other two companies, even if the games don't become financially successful. They still look like they try (Nintendo does a good job with their existing IPs), instead of releasing the same game over and over, moreorless.
Games published by Sony in 2012-14 that are new IPs include Book of Spells, Playstation All-Stars, Sorcery, Tokyo Jungle, Journey, The Unfinished Swan, Beyond: Two Souls (even if it plays similar to Heavy Rain), Diggs Nightcrawler, The Last of Us, Puppeteer, Rain, Knack and Resogun. Granted, a lot of those aren't exactly high-class titles, but they try to be somewhat original.
Nintendo doesn't invent many new IPs (Wii series was their first one in a good while), but they tend to do pretty well with their established franchises, even if one of them might be a little milked. Microsoft doesn't seem to have a whole lot going for it, as far as original IPs are concerned, as outside of Ryse and Quantum Break, I can't think of any previously announced titles coming to the Xbox One.
Appreciate the response and I understand. I do agree that Sony does take more risks but it wouldn't be such a risk if they actually do some research on content consumption of consumers. There games would flop way less and they'd start becoming more like activision blizzard in terms of their quality of games.