No, it's not. I can't believe some people still actually believe this.
Microsoft paid a shit ton to keep these games off their competitor's box. You ain't getting it on your PS5. You can either stream it or plunk down the money for a XSX (I'd got for the latter...it's worth it!)
Really, I think it could go either way. I also think the purchase price is a bit of an afterthought for them at this point. Bruce Springstein just sold all his songs to Sony for like half a billion, and most of his audience will be dead in 20 years. It's going to be for licensing in movies, commercials, presidential campaign ads, and putting remakes on elevators.
MS buying a $50 billion company for $70 billion means they get to keep a $50 billion asset. They're really only spending $20 billion as long as it doesn't drop in value. If it increases in value, the amount they spent is even less. MS stocks and Activision stocks have already gone up, which takes a chunk off that $20 billion right there. They pull in at least $1 billion a year if not more, profit. Over the next 20 years, just owning that license will basically pay for itself, regardless if they put it on Gamepass or not. They could just have it day one on Gamepass and think that is enough of a contrast to the $70 or more it'll cost on PS.
Similar to the Minecraft purchase in that case.