(Sony has also been announcing partnerships early. This gives a glimpse of its library without drumming up unnecessary over-hype, a good thing to avoid since sometimes that'll burn a project out. So the Jade Raymond project, the Deviation Games project, the Firewalk Studios project, we know about these, but we don't know so much about them that we're holding it against them every major event their games aren't shown.)
I appreciate Microsoft's announcing approach as I personally like getting a long view of the slate, but they lit a fuse on Fable and Perfect Dark by deciding to show CG teasers way before any gameplay is ready, and it's really hard on fans knowing that the excitement they felt in 2020 seeing those names is now the same dim spark in 2021 and may continue not firing up into 2022...
It'll be interesting to see what kind of show the next PlayStation showcase is, because it's been almost a year since the two big PS5 video events in June and September, and now all but three of those games are out: Horizon Forbidden West, Gran Turismo 7, and God of War Ragnarok. Even if Sony totally ran dry after launching everything in the first two quarters (things slipped, but it sounds like the plan was to have Horizon and GT7 for Christmas plus maybe Death Stranding DC, and we have some rumored standalone titles that may exist but we don't know anything for sure yet except those 3 announced games,) now it's about time to start putting some new names up on the board...
The big difference is that in these cases Sony has been honest saying: hey we signed a deal with these guys but are barely starting to work, so don't expect their games to be released or even shown soon. Instead take a look at the trailers of these dozen or so great AAA or (timed console) exclusive indies to be released in the next year or so.
Microsoft instead release misleading CG teasers that make some people think the game will be released or two after the trailer, when the game is not even in production. Example: Hellblade II announced in 2019 with a very cool cg, and then in mid 2021 they say the game isn't even still on production. But the same can be said of games like Everwild, Forza Motorsport or many other ones that we don't even know which year are they going to be released.
I think Sony's showcase will be basically like the ones they did these recent years: trailers of both known and new hyping games to be released in the next year an a half or so (so from now until the end of 2022), with maybe one or two 2023 games. And with no CG, all of them showing gameplay or in-game cutscenes running in the console devkit in real time.
This means Sony can make the Death Stranding DC, GoWR and FFXVI full reveal, announce the next CoD, Ghost of Ikishima, the TLOU2 Factions game, the other game Guerrilla has been developing since 2018, the Firewalk game (under development since 2018), Insomniac's 2022 game (Spider-Man 2?) or Sony London's AAA game plus some cool indies and some exclusive or multi surprise (Dragon's Dogma, Dragon Quest XII...). They can also announce some acquisition (not Arc System Works, fighting game important new typically wait until EVO) or some cool PS Plus or PS Now improvements, or to show PSVR2 and mention they will release it next year in addition to show release dates of H2 2021/H1 2022 games that still don't have an exact release dates.
A 2021-2022 line-up that basically will mean that they will continue dominating MS by a huge margin during these two years.