Not really, visible by three key reasons: history, PSN subscribers, and COD marketing.
COD continues to drive PlayStation's PSN subscriptions because its required for its addictive multiplayer. Sony moved away from producing its own titles to drive PSN subscriptions during the PS4 era, relying mostly on third parties to do the heavy lifting, which a few exceptions, like GT. One of Ryan's initiatives was his GaaS push, which while serving as a microtransaction engine, also help ween PlayStation off its fundamental need for third parties to push PSN for it. Given PSN is where PlayStation makes a sizeable chunk of its profits, this is a pretty smart move for their long term survival despite the shit slung his way.
In addition, Sony wouldn't have outbid Microsoft for the marketing rights basically since the PS4's launch if COD wasn't a fundamental driver for them. Whoever has COD in their corner gets those sweet platform royalties and online subscription dollars. That brand association takes a while to die off, as we saw with the first COD iterations during the PS4 era where Xbox was still posting majority sales, so expecting it to change over night doesn't make sense. I'd also wager Microsoft is easing into its owner role, likely to let regulators relax after the tumultuous acquisition process, before going hard on the Xbox marketing for future iterations.
If Call of Duty wasn't on PlayStation, do you think the +30 million annual players would just... stop? They haven't stopped in nearly 15 years, despite the marketing deal changing hands. In fact, they migrated from Xbox to PlayStation, following their favourite game. Without Call of Duty, PlayStation wouldn't survive in its current form - as Jim Ryan testified. (That's part of the reason for this GaaS push). COD is, and will continue to be, an absolutely core pillar for PlayStation. PlayStation, however, just so happens to be fans current platform of choice - a choice that's changed in the past, and may change again in the future.