No it doesn't. They won't win in the long run because they have nothing to run with. They blew their load early on. Sony kept things for TGS (Does MS attends it?).
It's actually smarter because revealing more exciting games closer to release generates positive buzz not now when it's not needed, but in Fall when people are going to to go to stores and make the final decision.
funny, how do you know this?
Thay have 2 studios in japan, who are probably working on something to unveil at TGS.