It really isn't that complicated. There's no 4D chess being played on acquisitions that makes one strategy any more clever or intricate than the other. Sony was making a more aggressive style of move on Bethesda than any they've made in year's past with Deathloop and Ghostwire: Tokyo, and rumors are that they were trying to secure Starfield as an exclusive as well. And, let's be honest, why the hell wouldn't they be? That game looks like it could really become something special if it delivers on Bethesda's big ambitions and what they said in that Washington Post interview.
Microsoft had apparently been talking to Bethesda for years before, and I can't tell if Sony's newly aggressive attitude towards Bethesda made Microsoft pull the trigger much more quickly, but it almost certainly had to factor into the equation, especially with Google and Amazon on the sidelines. Every acquisition is a considered one and is about the securing of one's interests. Microsoft for their plans certainly loved the idea of owning all those game studios and the legendary IP Bethesda owns, so they went out and spent the money to get it, same as Sony is doing in other areas. Bethesda is perfect for Game Pass. Bethesda makes Game Pass a juggernaut way beyond what it could have been without them. There's nothing frenzied about Bethesda and Xbox. It's fucking brilliant if you have the money for it.
Again, if you have the money for it... Let's not pretend Sony wouldn't have gladly went out and done the exact same if they could afford to do it. To take on that entire organization, keeping even the publishing, marketing and all other departments intact is a feat that few companies could ever hope to achieve and then manage. Microsoft being a $2 trillion dollar company is one such company.
It's also a matter of what the different studios feel fits the best for them, and surely the money also plays a huge factor as well. Sony's strategy currently is one in which they don't treat PC as a first class citizen the way they do playstation console owners by doing day and date releases on PC for their major games. Maybe nixxes is an effort to begin to change that, I don't know. So the potential for Bethesda under Sony would presumably put at risk Bethesda's relationship with the PC gaming community, so it's the money, it's the relationships, it's the company priorities.
In each and every possible studio acquisition that trifecta has to be there. The money, the relationship, the priorities. Insomniac clearly valued more than anything making games for Playstation, continuing to have hold of that very lucrative Spider-Man intellectual property, and they already have an excellent relationship with Sony, plus the money was clearly right. So it made total sense for them.
My take is I've seen a couple articles now seemingly trying to make Microsoft's acquisition of Bethesda seem sloppy or "frenzied" while trying to massage playstation fan feelings about its significance, telling everyone it will be okay and Sony has a plan. Of course Sony has a plan, they must have a plan, but make no mistake Sony would have wanted Bethesda too, they just couldn't afford to spend what Microsoft spent to get it. Everyone of these articles nowadays is entirely about the Bethesda acquisition in a direct or indirect fashion without saying so because of how big it was.
And people may not want to accept this truth, but it is a move that represents a major shift in influence and power unlike anything we have seen for decades in the games industry. It's honestly a move which tops Microsoft launching the 360 a year before the PS3 and the PS3 coming in at the price it came in at. Console sales are always nice, but it's not the only way to make that money anymore. Game Pass on Xbox and PC + Bethesda with the studios already existing in Microsoft's stable has changed the game. It won't be about outselling Sony's consoles, it will just be about finding success with their current model in a way that is growing and sustainable long-term. I strongly believe it will be sustainable and grow long term. It's already experiencing record growth just since late last year, and I see Halo Infinite, Forza Horizon 5, Redfall, Starfield and a range of other titles expanding its value to Microsoft. And then there's the other elephant in the room, Windows 11 hype.