How does the exclusive game work now? It's okay to have exclusives to compete with the big boys but surely the rules are different once you get to this scale. When you get close to a monopolistic position using exclusives to lock out competitors is abusive. Though MS is still not quite in a monopolistic position yet... they're getting close.
Sony already locks out competitors with exclusives, whether via studios they acquired or games they pay to make exclusive.
Not to mention that ATVI is a behemoth but their catalog isn't the same "everything-store" as 2000s ATVI (or current EA), it's a few (big) franchises. Hell, the Bethesda deal had more franchises involved.
