Sony, historically, shows CG content or unrepresentative footage (ahem, No Man's Sky) years in advance of what's actually going on. They repeat this time and time again. Or they do stuff like revealing stuff that isn't really theirs, but paid exclusive stuff (like the RE7 demo, which was a paid exclusive demo, for some reason).
Microsoft has recently employed a habit of only showing stuff that's coming out in the near future. Sony will be like "aww yeah, this thing's coming out in three years, get hype!" and Microsoft has gotten increasingly good at only showing stuff they've got release dates for. It's stuff that's been locked in. There's still some holdovers from Mattrick's era (Crackdown 3, Scalebound), but he's not running the show now. I think Rare's Sea of Thieves is the only major game announced this year that Microsoft doesn't have dated? Might have that wrong.
Where we're at right now... Sony basically has nothing, right? Like, nothing at their E3 showing came this year with the exception of The Last Guardian, if I remember right. We've got... what on the horizon, with a firm release date, other than, y'know, Horizon?
I think Microsoft, right now, has an issue with generating player excitement for their games. They've been really good about providing the better console experience, especially with 360 compatibility, better monthly games, and so forth, but their library needs to move beyond the old standbys (Halo, Gears, Forza) and start pushing some new AAA surprises. Something to compete with Assassin's Creed would be the right move.
Rare never made a game better than Banjo Kazooie Nuts and Bolts.