I seriously doubt its that simpel

I am sure it is for microsoft. They have a big check book. 

Insomniac won't allow it.

Yeah so you think just because they have a lot of money they throw it around like crazy? Yeah they could give Insomniac 250 mill and the IP would be theirs. But that wouldn´t make any Bussiness sense, this is not how business works. They have to be profitabel with everything they start.

I am super jelly to be honest. I welcome a later port or sequel to it later on. Big fan of Insomniac...except for fuse, but lets pretend that never happened.

MS paid for the development of the game so chances are ,,it won't happen. Remebered Insomniac did approach Sony about this game and got turned down.

Well duh its not a 2D 16bit rogue like with a twist so its a defintive nono

they cant do shit if insomniace dont want to sell it to them. 

Their last few games have sucked. Not really all that excited for their content anymore.
But to answer the question, I think they own the rights to this game so they can take it anywhere after the first game.

Exactly.

The game isn't even out yet.