Yes, there are laws against monopolisation. At dome point they should prevent further big aquisitions by Microsoft.

nothing will happen. if microsoft want it they will get it.

Anti monopolization laws have been gutted in the US and even those aren't properly enforced

I think the MS acquisitions are louder than the impact they will have and it's the loudness that causes more reactions than anything else.

Phil said games traditionally supposed to go on other platforms will continue to do so.

COD is the big noise and that's it. WoW is dying breed and StarCraft has never been on PS.

SE for me would be a better buy. FF14 is doing really well and growing. They would have Tomb Raider, FF and all the other JRPGs under SE.

Considering the deal won't close until mid 2023. I have a feeling MS has announced this as there is another rumor there will be a bigger announcement coming soon. This may be a preemptive strike from MS I think

After this acquisition, Microsoft's gaming market share will gain a whole 4.2%, from the current 6.5% to an estimated 10.7% (according to Newzoo). This is nowhere near the monopoly. Unless they start breaking down the gaming market to specific sub-markets and regions AND if they prove that MS has (or is projected to have) more than 50% of the sales there (not the number of studios or IPs), this is very unlikely to happen. 

They're definelty not dominat in the mobile gaming market (including King), zero share in VR/AR, not by a mile in consoles by hardware and software sales. If they look at the Gamepass they're either will need to include whole PC gaming market + streaming, or split GP userbase by platforms, which will reduce the overall sales share to be taken into account. If in the meantime Sony comes up with a similar service, that will only help MS' case. I really don't see that happening. Not in the next decade at least. 

Just look at Disney. They went pass the antitrust laws without much problems. People think they own everything now, where in reality their market share is around 30% at best. From our demographic and prefereces perspective it just looks like monopoly. 

As of now even with Activision, Microsoft is not even close to monopolization so not sure why there is even talk about it.
Tencent and Sony are still on top (revenue wise).

While it will most likely change for Sony this generation, Tencent is way ahead.

Also to the OP, Sony by themselves will not be able to compete at some point, that's for sure. But I expect one of the big one to buy Sony (Apple or Amazon).
This would be the best outcome.

A merger with EA or another big publisher can also be good. But Sony cannot acquire them, it is just physical at this point :) 
What Microsoft just payed for Activision, is half of the whole market cap of Sony.. I mean :)

I hope this is the last publisher acquisition from MS. I don't like this consolidation. So yes, I would hope someone to step in and intervene.

Somewhat quiet rumors of something bigger on the way soon.

Could be a preemptive strike, that's totally possible, and likely if the rumor is true.

Also could just be MS getting the news out asap, making a huge deal out of it with extra PR so it spreads, so Acti/Bliz franchise fans will stop buying PS4/PS5 and start buying XBSS/XBSX instead.

If you're XB and you're planning to cut PS5 off COD by holiday 2023 let's say for example, you don't want COD fans buying PS5 from now until then not knowing that was coming.

Might as well get as many as possible to buy an XB asap instead, even if it turns out MS changes their minds and allows future COD on PS5.

I think Microsoft is done with the acquisitions for the time being. Right now they have a strong enough case to not being a monopolistic enterprise that they will probably not run into anti trust problems.

If they go out and announce another major acquisition in 6 months that will blow that case up entirely, and the government probably would intervene. They need a several year cooling off period before they go spending again

Depends on if someone else forces their hand. If others with deep enough pockets go bidding on stuff that XB wants, they won't have much choice but to outbid or lose that option.

MS can likely buy quite a bit more before they seriously have to worry about lawsuits and the Gov becoming an issue, depending on what they bought.