So while it wasn't an actual IDK question, I expected there to be some I never heard of due to the use of "all these cancelled games" when in reality its just more doom and gloom over like 3 games.
They opened the generation hyping a big new AAA stealth/spy IP from Black Tusk, including an E3 teaser trailer completely fabricated from whole cloth and let it float out there like it wasn't absolute bullshit. Then it disappeared and next thing we know Black Tusk is now The Coalition and assigned to turn out Gears games into perpetuity.
They hyped Scalebound at E3 2014, it's now cancelled.
That same E3 they hyped Phantom Dust, also with a complete fabrication of a teaser trailer, by one developer's account have churned through some studios, and the game is coming along so well that when Scalebound was cancelled it didn't even get mentioned on their PR release for upcoming 2017 titles.
Fable Legends was shown and hyped at a time when Lionhead was just hollowed out in terms of staffing. They kept acting like it was a real product. Turns out all the concern related to them having two big rounds of layoffs at the studio leading up to the Fable Legends hype was rather legitimate.
Project Knoxville was cancelled and the studio closed to, in MS' own words, "focus its investment and development on the games and franchises that fans find most exciting and want to play".
This goes along with MS' history of hyping games only to can them. Titles like True Fantasy Live Online and B.C. on Xbox, Project Milo and Project Spark, both show hyped X360 games that never turned into anything, not to mention cancelled partnership projects like Halo: Chronicles and Marvel Universe Online.
It isn't even that MS cancels games. Everyone does. Cancelling the Obsidian project and the like is similar to things that both Sony and Nintendo have done. But MS has a long history of coming to trade shows, showing "conceptual video" of a game no where near that developmental state, letting everyone make assumptions, then when reality sets in a few years later taking the project out back and shooting it while hoping no one notices.
Serious gamers, the kind of people who post here, buy systems for the games we expect to come. MS' entire strategy here is to get this group hyped for their system assuming we won't actually ever hold them accountable for these absurdly early showings that with a sad frequency never even make it out the door. It's made worse by the fact that many of these projects were clearly falsified technically just to make something look cool and their cancellations either reveal that there was no "there" there (Black Tusk's game, B.C.) or that the tech simply didn't work. (Project Spark, Milo)
For comparison, how have Sony done in the space?
I know they shut down a studio, did that take any announced/released games/support with it? That seemed to have mostly blown under the radar due to all these threads.
Everyone has changes in staffing. Sony has closed a lot of their GB studios, but this is an industry-wide phenomenon because it simply isn't worth operating out of GB to employ European talent when many eastern European countries cost far, far less for more or less the same staff. So while Sony has been reducing GB staff they've been rapidly expanding Guerrilla Games. They've also clearly been increasing the staffing at Bend (previously about 60 people, too small for a game like Days Gone), likely the same at Naughty Dog as it moves into a full two titles at once cycle.
But that is largely because Sony's best use of capital as a company is generally pushing out more software, so they're willing to invest in more studios and more titles in the pipeline. They've had some major hiccups themselves this generation, namely Sony Santa Monica's cancelled project. But unlike MS that's a title Sony didn't hint at or tease at all prior to cancelling.
MS meanwhile really needs a title to justify it's expense versus just rolling out more enterprise servers when it comes to how capital is divided. Sony's CEO game from the gaming side. His #2 then is now the head of Sony Worldwide. Playstation is their flagship. Nadella came from the part of MS that actually makes huge stacks of cash and likely looks at Spencer about the same way Sony looks at whomever is running their television manufacturing division. A poor place to allocate capital compared to other in-house options.
What major heavy hitting games does Sony have coming this year? I mean, God of War looks to be possible by the end of 2017, but what else? A lot of the offerings are either new IP's or JRPG's.
Zelda and the new Mario game are the only heavy hitting AAA exclusives I've seen.
Make no mistake, the biggest games will still be stuff like ME: A and RDR2 in 2017.
Gran Turismo Sport is likely a 2017 title and I'd give it a damn good shot against Mass Effect: Andromeda. ME2 sold 4.8M units as of November 2014, ME3 sold 900K on the X360 it's first month and that was said to be 4:1 compared to the PS3 version, so about 1.1M in the first month.
Meanwhile Gran Turismo 6 sold over 5M copies, half of what Gran Turismo 5 sold in large part because it released the same holiday season as the PS4. That was when the Playstation was less the "it" console too. Now Sony is back on top and have the muscle to push GT like they used to. I'm not betting on it getting back over 10M sales but more than GT6 seems very likely.
Other than that I'm expecting Spider-Man to hit in 2017 as that's the release of the movie, Insomniac put out Sunset Overdrive in 2014 and R&C in early 2016, they have more or less the equivalent of 2.5 studios worth of staff and I doubt Song of the Deep took up a ton of people, same with their other smaller side projects. A quality movie tie in game is likely to have at least as big a marketing impact as anything short of the really big AAA franchises.
Lastly, God of War is, according to Barlog, fully playable start to finish as of December and now in polishing. I'm betting it won't be a 2017 release because Sony always likes to drag one big heavy hitter into the spring season and the re-introduction of God of War is a great choice for that. But I wouldn't be surprised if it makes it out in 2017 still either. Obviously God of War is kind of a big deal (the previous mainline entries sold 4.6M, 4.2M, and 5.1M respectively).