Does it matter though? I don't know why Ratchet and Clank has suddenly taken on being this massive flagship IP. It's a decent franchise but aside from Rift Apart it was out in the cold
You must be new on the forum. The rule is fairly simple - everything that's not on XB (even if it's on PC) is better than a triangle with twins. Godfall, Destruction AllStars, Sackboy, Bugsnax, DS, recent Returnal, now the upcoming R&C, you name it. Someone just needs to tell all those millions of PS5 owners out there to actually start buying those games, that's all.
That being said, R&C has actually been gaining a lot of traction lately, the recent few installments were the best selling ones in the history of the franchise, again and again, so I's glad to see Insomniac finally getting the recognition they always deserved, but other than that, yeah, it's just another Ratchet, it has it's loyal fanbase, but it's not something that will top the charts and sell in 15, 10, not even 5MLN copies.
As for MS's 1st party studios output, I honestly think they'll need at least 2-3 years before the big games will start to show up (unless they'll rush them like they tried with Halo). Because what's there on the horizon? Halo somewhere after summer, Forza for Christmas, and...? The games they announced so far are in the early stages, nothing has been shown other than CGI teasers or some leaked screenshots, so I can't think of anything that could easily make it to 2022.