For real, Sony really mishandled LBP3. LBP3 should of never been a cross gen title at all, becoming purely a focused PS4 title only, and it should of never been rushed just to be out before the holidays. Felt like it could of done way better if it was released as a spring/summer title.
Still, Sackboy is a pretty good Playstation mascot. So I imgine Sony not entirely done with the ip quite yet. If only they could get a studio or Media Molecule to deliever a complete overhaul with fresh new ideas, physics, and graphics but with the spirit and user creation still intact, it could return to form, matching the hype and reception the first LBP got, but chances are, thats pretty slim.