PS3 had more exclusive studios, therefore more exclusive games than Xbox... but that being said, where's this turnaround? It's not like they had less and put effort to "Turn around" their exclusive studios and games to surpass Xbox.
PS3 may have been lagging behind in the US, but Worldwide they were neck and neck with Xbox all along, again, where's this great turnaround people are talking about?
PS3 was expensive, the platform was difficult to develop for, multi-platform games often lost in the head to heads.
By the end of the generation, the updated model of the PS3 was cheaply made, they took out USB ports, card readers, backward compatibility processor and at the end of the generation, Xbox 360 was still reigning on most head to head.
In Contrast, the Xbox One started off as the worst console technically, the most expensive, had very few exclusive studios and a set of really bad policies. The turnaround to what we have today is huge, now they have the most powerful console, have acquired many studios, added backward compatibility as opposed to taking it away and have reversed all of their bad policies and added a few great ones. So when it comes to "Turnaround" there's no question which had the best one, there was nothing to really turn around for Sony, 360 just happened to launch first and they had to catch up, which they did, but none of their policies, practices or hardware was changed, in fact was downgraded little by little with the removal of SACD playback, and BC chips. Edit: they dialed back their arrogance I guess lol.