Insomniac is at worst a top-three action-adventure game dev, and most of their IPs outside of Sunset Overdrive are so connected with Sony, that this is a no-brainer on Sony's part.
They've got a variety of in-house IPs to work on here, and Sony seems to be pretty open to letting their studios create what they want, so I expect good stuff from them.
Sony's in-house IP will never have the cachet of Nintendo's stuff or even Rockstar's stuff, but they continue to approach that sort of area where their in-house studios are going to have games that throw up big numbers and are artistically and critically impressive.