Eh they haven't really done much that compares to what MS has been doing lately. The thing people probably find most annoying are the timed exclusives but if you go far enough back this was arguably started by MS with the gta IV dlc (god remember when that was considered an industry shaking event? Simpler times lol) and other games like Bioshock. As for PS having hoards of 3rd party exclusives in the ps1-2 era that was mostly by circumstance, not their own doing. They were such a runaway behemoth sales wise, and games back then were still cheap enough to survive on 1 platform, that it just happened. I liken that to so many games being steamworks. That didn't happen because valve moneyhatted people, it happened because they were the clear cut dominant force in the sector.
Acquisitions have always been around but buying entire publishers changed the whole game. Also when you look at all of sony's buyouts they are historically studios that mostly only made sony games to begin with. Naughty Dog, Sucker Punch, Guerrilla, Bluepoint, Insomniac...xbox people didn't really lose anything by those studios being acquired. MS' buyouts historically are about taking things away from others with a few exceptions like Playground and Undead Labs. I hate consolidation but if it's going to happen I prefer the route that's not really taking things from other people. The shitty thing is all this stuff MS is doing is likely going to provoke a response and you're probably going to see someone like capcom or SE gobbled up.
I agree with what you are saying. but going around to every third party for exclusive deals (timed or not) because you want to be the default third party box forever only has two outcomes: you succeed at starving the competition out, making them resort to the same tactics, or escalation happens (or outright just winning and killing competition if they can't keep up. I guess). I could argue that MS's acquisitions are
already a response to these practices. The provoked response is already factored in, even the financial market gamblers agree.
But I also disagree with this idea of acquiring studios who are close partners being somehow different. The end result is still a net loss for multiplatform, consumer friendly, widely available gaming. If Microsoft had bought Epic after Gears, everyone would be 'fine' with it because it's "organic growth", "close partners" etc., and maybe Fortnite doesn't happen. or it happens under them and doesn't become the global phenomenon, or it does and it's exclusive to MS.
Now, I don't really care about Epic, but the principle is the same. You buy Insomniac, you buy ND, whomever and you are also buying away that potential. These are very talented studios, just as capable of becoming the next Epic if they strike gold with the next big thing. And people who don't own X or Y platform always lose. This has always been the case. Perpetuated, encouraged and forever chased by the incessant desire for infinite growth and profits. All of these platforms are complicit, none of them are passive observers or morally correct entities. I just don't believe it's a different kind of game now. The game is the same, it's just become more fierce.
Massive groups like Tencent, Amazon, FB, Microsoft have just accelerated the same processes that have been going on for a long time. People have a right to be upset, of course, but I just can't be arsed to pretend NOW it just got worse. It has always been shit.