"Only" 2 IP is really underselling it by a lot, 2 IP that are both massive.
First, you can remake Witcher 1 and 2 at this point, especially on the console. and eventually maybe even Witcher 3. So Witcher 1-3 + 4. That's probably 60-80 million copies. You're looking at billions in revenue here alone.
Then you have Cyberpunk, which has only scratched the surface. You can ultimately expand this universe to the point where it is just as popular if not more so than Grand Theft Auto. When you look at the property rights, you have to envision possible live action tv series and movies. Just comes down to who owns what rights.
Converting GOG into PSN on PC and then integrating them together will fast-forward their PC plans by years.
They're a European company and PlayStation is a much larger brand in Europe than Microsoft and Sony already has established studios across Europe. They don't just sell more on PlayStation than Xbox, they sell significantly more on PlayStation than Xbox.
All this being said, whether they're a good studio at the moment is very questionable. They've seen a mass exodus of talent which is why they've shifted gears to Unreal despite the cost.
I think that they'd naturally do well as a Sony internal studio. Would help both parties substantially.