It depends what you consider to be Sega at all. Where once there was a sort of common goal and cross-over between Sega Japan and Sega West, now only Sonic games are the shared DNA. Lord knows what bailout is at the core of Sony getting Yakuza 5 on the go.
Sega Japan makes a few of the sort of things you'd expect of the Sega of old such as the Yakuza series, the occasional arcade game, and some retro releases on the 3DS. The 'true' Sonic Team is over there and making... stuff. Phantasy Star Online stuff continues to be made.
Sega West is going to soon just be a publishing house for Sonic games, Total War and Football Manager if that isnt it already (will there be another Alien game funded?). For fans of those latter PC titles, thats nice and all, but that is about as far away from 'SEGA' as the company gets. It could have any name, Atari, Acclaim, god knows. When even PSO2 didn't make it over, its hard to consider Sega West very 'Sega' at all.
For Sega to 'succeed' for what I state clearly as my interests, and selfishly ruthlessly so, is for Sega West to die/be spun off and removed entirely from Sega Japan, Sammy. I would like this to happen now while Atlus USA remains "uncontaminated". Then, once the current Sega West is dead, Atlus USA becomes Sega USA. No crossover. They get to continue being a great cultivater of a hardcore fanbase through intelligent choices, passion, and efficiency. That sounds horrible when job losses are obviously a huge factor of that, but a dying whale is a dying whale when its got what Sega West has. If you own a healthier, better shark/porpoise, slap the Sega label on that.
Of course, the fly in the ointment is you can point to FootyMan as the only success Sega can often point to. Spinning that off would be deemed crazy, but... there we go. Theres always the chance you can just tack FootyMan publishing duties onto the Atlus USA-become-Sega-USA and cut the rest of the rot off.