Ignoring the "financial collapse" hyperbole (there's a thread on Sony's financials), let's start with the fact that EQ Next wasn't funded by Sony.
Sony sold SOE in 2015 to Columbus Nova.So Columbus Nova cancelled EQNext independently of what Sony are doing.
Furthermore, Sony has studios that make games people want to buy, managing how many studios they have for this purpose. MS has a handful of studios making games with a history of buying great devs and them ending up producing unwanted titles before getting closed and yet not 'replenishing' with new studios making relevant content.
As above, we have a few titles from MS - Halo, Gears, Forza, Crackdown, whatever Rare are now being allowed to make. Your example of Scalebound is not in house. And as per my above link, many of MS's 'studios' are experimental and not really outputting anything relevant.
Sony has something like 12 studios producing first party content. Things like MLB, Drawn to Death, Infamous, UC, GT, Dreams, Gravity Rush, Singstar, Driveclub, Killzone, Horizon Zero Dawn, Rigs, and such. Sony are still funding game development and studios in house even when they close the like of Liverpool. Sony operates as a conventional large publisher with in house studios, constantly evaluating projects and closing some early when it seems warranted, turning over studios as it deems nevessary. MS operates likes a company with money that buys successful studios, leaves them to fizzle out, then closes them.
If MS were good at handling studios, with all their money they should have the best talent and the best products and the best exclusive content driving people to XB/Windows. Instead they prefer 2nd party because it saves them from having to manage the studios and gives them flexibility. That's why they're closing Lionhead despite having plenty enough money to invest in them to create more content.