Since you've decided to highlight your key point in bold letters, we should first ask ourselves if this premise of yours is actually true in the first place. Because up till now, all you have are assumptions that run contrary to the facts of Microsoft's acquisitions.

We do know that Sony's practices have been all about taking away games from other platforms, just like Microsoft's (timed) exclusive garbage they did happily partake in in the past. But Microsoft's acquisitions have not followed this pattern of taking away desirable games from other console manufacturers; what actually happened is the opposite, because Nintendo consoles got included whereas they were previously left out. This was true for Minecraft and will be true for Call of Duty as well. Add to this that these IPs didn't/won't leave PlayStation either.

So the key question is this:

How exactly are Microsoft's acquisitions a bigger objectionable practice than Sony's deals of the past and present?

Granted, Microsoft is an evil corporation with a stained reputation that was well earned. But in gaming their actions have improved in comparison to what they've been before when they played Sony's game by Sony's rules. Therefore your premise is plain false and doesn't work as an appeal to the morality of gamers.

Furthermore, Sony's acquisition of Bungie works much like what Microsoft intends to do, with existing IPs being promised to remain multiplatform. This new reality seems to have similarities to the Cold War and nukes where two fierce competitors possessed deadly threats, but neither of them ever used them because they both knew that they would lose more than they would gain by using them. So what's more likely than Microsoft pulling games from PlayStation is that both console manufacturers will try to put popular IPs under their control while keeping them available to gamers regardless of platform, for the sake of having that threat to retaliate if the other should choose to try something. And in all of this, Nintendo and PC gamers seem to be winning, because they'll get to have more games on their platforms than before due to both Sony and Microsoft playing the goodwill game in hopes to pull Nintendo and PC gamers to their platforms and services.

It's all fun and games until someone eventually decides to buy just the right IP, with a large enough or hardcore enough audience, and makes it exclusive even if it doesn't really seem to make much sense to do so.
Then all of the sudden it won't really be ok anymore and that company will be the scum of the earth, who should be boycotted.

Maybe it needs to take place just to make it clear how much of a problem something like this really is. Hard lessons suck.

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Doesnt effect gamers, pushes competition and increases value of GP.

These announcements aren't any different to how Sony has handled things. I fail to see how what Microsoft is doing is worse than anything Sony has done.

It's just that we've been coming off a period where the funding had been cut for the Xbox division and the vast majority of third party deals had been made by Sony, and now that the playing field has been leveled, it's somehow worse.

The current trajectory is that both PS and Xbox will become redundant consoles, because both console manufacturers will put their games on the PC. Microsoft all of them day 1, Sony with delays of varying degrees. That's why I don't see a real problem for gamers here. The weaponising you speak of would first and foremost be against Sony, but not so much gamers.

What are the negative consequences you see for gamers?

When I play games I do not play the system or the publisher or developer.

So I say more power to them!

Ah fk it, against. I wrote a legthy article but got deleted by accident and can't be bothered. Bad for hardcore xbox gamers who wanted more exclusives, and bad for people on other consoles who enjoy games from blizzard/activision.

Im not sure if anyone thinks what your saying. But i will say Ms getting Acti isnt going to stop Sony or amazon or Googler or what have you from buying up companys anyways. In fact even if Ms doesnt get acti all that stuff is most likely going to happen anyways.

Do you honestly think Sony or any of them other companys where not planning on buying more companys anyway?.