Not trying to pick on you specifically, but I'm really curious why everyone decides that it is the 3rd parties fault if popular PSOne character "XXXXX" doesn't get in the game. If these characters are so unpopular these days, then you would think that the 3rd parties would want to negotiate in order to make money/gain more reception over a brand that is currently dead in the water.
Instead the decision to not go and get these characters could potentially be the fault of Sony and Superbot. For example, instead of trying to please the 1,000 Playstation fans that really want these characters (but will probably buy the game regardless) they instead decide to go after the 100,000 fans of Bioshock/reboot DMC etc. that aren't really interested in the game until they see current gen game character "XXXXX" show up and decide to take a better look at PASBR.
Because third parties, um,
own some of those popular IPs?
Lara Croft? Eidos
Cloud Strife? Square Enix
Chris/Jill/Claire/Leon? Capcom
Crash and Spyro? Activision
etc, etc.
Sony has a budget for this brand new IP. If the cost of licensing these fairly popular characters is too high, and could potentially cut into them breaking even and making profit on development costs, then I can see why they wouldn't just money hat the owners of those IPs.
If your budget for the game is 20 million, and Square-Enix is asking for 5 million to license Cloud alone, you'd actually drop that 5 million? A quarter of your development budget? On just one character?
But what if Capcom, 2K, and Konami are like, "Hey, we'll license you Dante, Big Daddy, and Raiden for 2 million each, but you have to use current versions of those characters, so we can cross promote upcoming games in those franchises," you, as a business who understands that Devil May Cry, Bioshock, and Metal Gear are pretty significant gaming franchises, and have played a part in PlayStation's history in some way, would be like, "Nah, I'll just spend 5 mil on Cloud and hope for the best?"
Big Daddy is in the game. As is new Dante, and Raiden. That's three fanbases that may give your game another look. If Cloud was in the game instead, that'd be great, sure, but you are only tapping that Final Fantasy fanbase. FF has hit some tough times as of late, and who's to say that Mr. Androgyny himself still has the pull he had back in the mid 90's? And this is coming from someone who loved FFVII to death when it released when I was in high school.
If 3rd parties are not interested in licensing their characters to PBR, or if the cost to license those characters is too high for the profit margins Sony is expecting to hit with this game, I'm sorry, but it's not going to happen. The blame isn't 100% on the third parties, but Sony, as a company with a budget, can only do so much to woo third parties on an unproven, new IP releasing 6.5 years into the PS3's life cycle.
*shrugs* I can't explain it any clearer than that, really. It makes sense to me, even if I don't like how it's all turned out.