Most PlayStation fans are proving to me that they don't know what the hell they want. Except if it makes Xbox look bad, without stopping to ask if it makes PlayStation look good (or does any good for the platform).
Case in point: Quantum Error (lol), Abandoned (lol), Baldur's Gate 3 (turned out amazing but how many PlayStation folks were hyping the game before finding out it wasn't coming out on Xbox due to development problems with Series S?), etc.
Fact is: Sony needs better variety between AAA and AA games. They can't survive as a published doing only massive-budget AAA games and hoping timed exclusive 3P deals cover the gaps. They need a balanced portfolio of 1P AAA traditional, GaaS/live-service (but a modest number, no more than 4-5 at a time), 3P exclusives (with meaningful exclusivity windows, not the joke of a 3-month window they have for Rebirth) and 1P AA traditional.
Those of you trying to knock Nintendo like they're some joke, or downplaying AA benefits for 1P, are getting it all wrong. It almost reeks of envy if not ignorance. As for this acquisition they announced? I don't care. Not only is it nothing pertaining to gaming IP that any subset of people actually care about, it doesn't seem like anything that will help notably shorten AAA development time or resource load. Those are the two things SIE should be focusing on for M&As and this acquisition does neither, so I don't care.
You're talking about nostalgia and yes, they don't have the specific advantage the way Nintendo does. But Sony have much more potential on that than Microsoft; they are just allergic to their own gaming legacy it seems.
And usually, when they try bringing something back, it's a half-assed measure. They probably wrote off the PS1 mini console as a fail because no one wanted it, when in reality it's because they packed in a shit emulator with shit PAL ISOs. But these companies will blame anything other than their own flawed execution for an underperforming product.