This would be horrible for so many reasons.
1. I always take 10 days off from work for E3 and just focus on all the showcases and games that get announced and revealed. Sony skipping E3 again would be such a major disappointment for me personally. I would definitely go into the event itself much less hyped and interested than I normally would be especially since PS5 launches at year's end.
2. Sony skipped E3 2019 to not only save money but also because they had no new games to showcase which if they skip again, tells me they have nothing major for PS5 launch or shortly thereafter and would better explain why Godfall is a PS5 exclusive despite it being originally slated for PS4 in 2019.
3. Sony skipping E3 2020 would also mean less marketing deals because why would a publisher want Sony to market a game when they're skipping the top tier shows and thus, wouldn't have their game in the showcase for E3. I look at Star Wars Jedi Fallen Order for example. SWBF 1 and 2 were with Sony marketing but yet, Jedi wasn't despite the fact that it's single player and a better fit for Sony than SWBF 1 and 2 were plus it's the far better game. Sony not being at E3 2019 in my opinion is why they lost out on this marketing deal.
4. This also tells me that their console is underpowered (which to be fair, im expecting it to be anyway) and be $400 at launch and don't want an entire show to be focused on that aspect which it would be since Microsoft's Xbox Series X will be all about power the day before.
5. Lastly, skipping E3 2020 will make my decision to go with Xbox Series X day one easier while waiting for PS5 to give me exclusives that I actually want to play. Godfall is on my list but it's rumored to be a timed exclusive which if true, I can easily wait a year to play it on Xbox Series X. Last gen, Microsoft made the decision for me to go with PlayStation 4 as my primary gaming console for the entire generation and looks like Sony is going to do the same thing this generation for me.
On two related notes, while yes, im super hyped for all the sequels to all the PS4 exclusives that I loved, im not expecting any of them until 2022 to be perfectly honest. I simply don't see them being ready before then which is why I believe that Sony will go all out in regards to signing third party timed exclusives which I hate but it will be what it will be.
The second note would be since I am expecting a $400 PS5 at launch, a mid-gen upgrade three years later is pretty much a guarantee. When looking at the PS4 exclusives I would have missed out on in the three years between PS4 and PS4 Pro, they were as follows - Knack, The Order: 1886, Until Dawn, Ratchet & Clank, Alienation, Uncharted 4 and Shadow of the Beast. For me personally, if I would have waited, I can safely say that Knack (and in turn, Knack 2 in 2017), Until Dawn and Shadow of the Beast would have been completely eliminated from my gaming list which in turn means that I would have had only a four game backlog three years into the generation and not miss out on much, if anything especially since none of the four would have gone past an 8.5/10 for me so no biggie.
With all of that said, im truly hoping that Sony doesn't skip E3 2020 and that if they truly have no top tier major AAA exclusive for launch, I hope they delay Ghost of Tsushima and make it a cross-gen launch title because I would much rather kick off PS5 with Ghost of Tsushima as opposed to ending PS4 with it.
On the positive side, Sony announced in late 2018 that they were skipping E3 2019 so I would imagine that if they were going to skip E3 2020, they would have officially announced it already.
