That does need a resounding answer. Bungie acquisition is only a fraction of what a complete answer looks like.
If Jimmy boy and the accountant haven't gotten the message yet with regards to the real angle of attack then they deserve to fail for gross incompetence. We won't be able to conclusively pass final judgement till several years, perhaps a decade from now. Needless to say their PC push, and the disproportionate allocation of resources to the GAAS push, as opposed to a balanced or advantage existing strengths approach doesn't entrust "faith" in the "plan". Looks like amateur hour.
Has nothing to do with this however. MS shopping for scraps in Japan while Sony bags the big hitters day one is not a fair fight to say the least and does nothing to change the status quo. This has been the case for years now, and not new.
Obviously, if Sony allows successful differentiation by Xbox in the shooter/WPRG market for the next generation (with this generation serving as the set-up/mind-share/investment gen) then slowly but surely market share will recede for PlayStation in the UK/CAN/U.S.A and those deals with Square and other third party "partners" become exponentially prohibitive and ineffectual.
Hence the imperative and no choice alternative but to give a sound response to the above. To gamble on "what if's" by doing little is a fools game. Nothing is left to chance in big business.