None of them have multiplatform IP that is being made exclusive and many of them were indie studios. When you guys continue to pretend that buying Activision is the same thing as buying a studio that has only done remakes or one that does PC ports it doesn't strengthen your argument.
This constant "MS is the trillion-dollar underdog" narrative is a joke. All companies buy and close studios, Sony has done it, Nintendo has done it and MS has done it, what's different is buying out publishers that make the biggest multiplatform games in the industry and pretending you are doing it to save the company and have no intention of taking games away from other players when behind the scenes you're saying the exact opposite.
Spencer's line about Bethesda running "semi independently" was a joke as well and showed he's nothing more than a corporate BS artist, the lies he was telling about the Activision deal only solidified what most people already knew.