For me, and I suspect for many people, it's just an accumulation of evidence of a generally unsettling direction, and one that goes back much earlier than Jim Ryan taking over.
- Sony Japan going
- Evolution and Guerrilla Cambridge going
- Quantic Dream being let go
- Gen Design being let go
What drew me to Playstation for the PS4 was their really outstanding first party set up. It seemed to have everything: big, polished, blockbusters, arty stuff like Ico etc, experimental games like Puppeteer, Gravity Rush, and so on. It had real excellence but they also seemed to understand that when you're selling art you can't afford to JUST focus on the money, because a lot of consumers have a deeper connection to your products. It's a cost of doing business in that particular market. That doesn't mean that I expect their execs to CARE about that stuff, but they should definitely understand that their customers care. You're not just selling cornflakes here.
I really do think, if you look at all the evidence in the round, that something is being lost. I think at this point Xbox looks much more like that holisitc first party environment right now than Playstation, which is kinda incredible when you consider how things looked 5 years ago.
I'll see how things go over the next year, but as things stand I'll definitely be getting a Series X and GP at some point, and it might be that I just use the PS5 for the couple of annual blockbusters their first parties deign to release. Microsoft can have the rest of my money as far as I'm concerned.