I wouldnt have confidence either. Looking at the financial charts in the Sony Earnings thread, their number of PS+ users is flat vs their fiscal Q3 2020 quarter which was 5 quarters ago. Compared to last quarter their PS+ subs actually dropped.
During this FY Q1, Q2 and Q3 were up YoY but Q4 was slightly down. But their revenue from game subs this quarter and FY had a good growth YoY (409.4B Yen vs 383B Yen). Why? Pretty likely because during Q4 many people got PS Now instead of PS Plus to get PS+ Premium for a cheaper price.
Compared to their direct competition they sell more games, get more money from subscriptions, have a bigger active userbase, have more subscribers, their games sell better than ever, their game division makes more revenue. For sure they must be confident, if they would be desperate for attention they would give away all their AAA games almost for free.
Wouldn't you think Sony would take parts of what makes Gamepass good and incorporate that into their business model before their user base is eroded?
Like everyone else, Sony copies the things that they think would improve their business, not the ones that would damage it.
PS Plus adds some ideas from GP like the intermediate tier with the big library of downloadable games available worldwide but without cloud gaming, to bundle the basic sub into the top tier or to double down on adding games from previous generations.
Regarding new games, instead of to give you a few new complete games they give you 2 hour trials of all the new AAA games. A somewhat similar idea but different to don't damage their and the publishers' business model that is focused on game sales.
It doesn't make sense to think it would erode Sony's userbase. If they aren't breaking console sales historical records right now it's because of the lack of chips. Their game subs performs way better than the one of the competition and with the new PS+ will work way better. Why would a less performing game sub would erode its userbase? And well, if this would change in the future (nothing leads to think it may happen) they'd take the actions required.
And Halo of the year, with Phil man of the year. It’s a tri factor of greatness!!!
Don't forget the cookbook of the year, the nail polish of the year and the furry gamepad of the year.