Since the ps1 days Sony has created several amazing ips but most of them are gone and forgotten. They all went to a similar life cycle. They get a 1st game that people love, a second that feels samey but still good, a 3rd/4th lackluster entry and poof, they're gone. Sony has very little faith in their franchises, once they realized people are losing interest they just retire them forever. Instead of reinvigorating them and giving them a new direction, they just axe them. In my opinion, that leads to them not having a memorable legacy like Nintendo. People only remember their latest games. How many gamers today know of Legend of Dragoon, Colony Wars, Siphon Filter, Twisted Metal, Genji and many more. They all vanished after a few entries. The same will happen to more recent franchises such as Resistance, Killzone, infamous, Gravity Rush, Tearaway.
People will probably say that it's normal because sales started declining. True but they could still have been salvaged. One of the issues I think is related to the fact that they release similar entries for the same franchise in rapid succession and create fatigue. It's not true for all the ones I mentioned but for most of them. I am looking at they current successful ips and can predict the future victims of their long term strategy. A franchise like Horizon screams retirement after 3 games. It's sad cause I really liked Zero Dawn just as much as I liked Resistance Fall of Man.
For me no two Sony consoles are remembered for the same franchises. When I think of ps1 Sony's output, I think of Siphon Filter, Legend of Dragoon, Crash, Twisted Metal. For ps2, I remember Jak and Daxter, Genji (really like that game), GoW, Rachet and Clank. On ps3 it was Resistance, Killzone, Heavenly Sword, Uncharted.
Their strategy is not all bad though. Over the years they have created a huge library of very different ips. And They always have some new exciting projects. They are just not good at recycling.
Now let's see Knack 3 get announced as a ps5 launch game.