Got to head to work, so I can't post for too long...
Its all a simple cycle. EA will continue to "consume" developers - but will also continue to lose the core talent that is driving those studios. They can own brands, and own companies - but they can't own the creative developers behind those companies - unless they ARE doing a really good job.
The result is what we saw last year. Lots of EA franchises "flopped", Madden lost 20% of sales from the previous year, Activision overtook them (without Blizzard being included), and average review scores dropped 5%.
If this continues, EA would be forced to SELL off some of their underperforming franchises - like dead husks, with all the gaming lifeforce sucked out of them. Some other company would pick them up, and slowly revive them.
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Its also worth considering from a business gamepoint, that the bigger they get - the greater the "risk" they have. Their revenue might be increasing - but their costs are increasing even faster, and overall - profit is tumbling.
There is a very good reason Nintendo do NOT adopt the "purchase and conquer" business strategy - its basically unprofitable. Instead they keep their core team to the same size - and just keep creating new IPs - and minimise any milking they do (note - Mario is a "brand", NOT a franchise - Mario Strikers is a franchise).
It will only take a company with 3-4 "mega" hits in a year (Activision?), to beat EA for a single year - they are carrying so much dead weight now.