They're most definitely AA games in relation to the very big budget projects that Sony is known for. AA/AAA is becoming more and more meaningless by the time, but we can easily notice how certain projects are of much, MUCH less budget compared to others.
I think you're putting a big emphasis on IP ownership that Sony never cared much about. Your issue is especially weird since we're talking about what Sony has managed to (or will soon) produce; what does third-party companies publishing exclusive games on PS4 ON THEIR OWN even have to do with anything?
Learn your Sony history thicc, they did exactly this back in 2008 with Aquanaut's Holiday: Hidden Memories on PS3.
Well we don't honestly know Death Stranding 2's budget and considering the amount of Hollywood talent involved, it won't be cheap. Fair to say, it'll cost a good deal more than an Astro Bot. I could see total costs being upwards $125 million which to me, is closer to a typical AAA budget.
As for IP ownership...actually SIE have outright said it's something they value. In fiscal calls they've stressed about wanting to depend less on 3P sales revenue cuts and leverage IP of which they own. Which are both things that make sense to do, so when I see SIE sell the rights of Death Stranding to KojiPro for example, it makes me question why. Unless it means they own the rights to PHYSINT, but I doubt that is the case because, again, it wouldn't follow the trend and SIE aren't very transparent about that sort of thing.
Bringing up the 3P games SIE would publish themselves back in the day, yes I know about all of that. But the industry's changing; for whatever reasons (some of which sound like excuses IMO but that's another topic), 3P (especially publishers) just seem less inclined to do exclusives. SIE may have things like XDEV which foster 3P development but a lot of it seems joined at the hip with PC simultaneous releases, which means inevitably the impact of those games for the console gets muted some. At least SIE are publishing those XDEV games though, mostly, so that helps with their publishing pipeline.
The actual number of such games being published though, isn't as many as generations ago. Partly because games have gotten more complex, take more time, so devs make less in the same period of time. However, that compounds on internal SIE teams themselves releasing less games than generations ago, and PS getting less defacto exclusives than even in the PS4 gen, let alone earlier ones. Are they still getting all the multiplats? Yeah, at least if you ignore the games that are PC-exclusive and don't get console ports or take forever to get ported to console (i.e VALORANT).
Could SIE be doing better regardless when it comes to release pipeline and exclusive games?
Absolutely.