Exactly. They keep saying Sony needs to create their own if they want to compete but they never ask the same to Microsoft. Phil fans are laughing at Sony for not creating a COD rival while cheering for Microsoft to get more established IPs.
The expectation is that Microsoft can buy whatever they want and then Sony needs to create their own IPs. That's competition for them
I think Microsoft knew this would be the only way to be competitive. What other way could they genuinely compete with Sony? All the smaller studio acquisitions would barely even be a scratch to sony. Their ip like halo and gears no longer have the selling power they used to and actually building new ip takes years and alot of effort. Something massive like a publisher acquisition was the only real way to get some mindshare back.