Sony of the past did in a way that. They could spot small talents in small studios that didnt have much future, and then invest in them and bring out incredible work. Bend and Guerilla games are such studios. Nobody was giving any attention to them and their work was mediocre to Ok'ish. Bend's game on PS1 was Bubsy 3D, one of the worst games ever on the Platform. Guerilla's game before they were purchased was Killzone 1, a mix bag of incredible achievement, bugfest and inconsistent performance. These guys pushed the PS3 all the way to PS5 in ways that they set new standards. Alone they would have probably not existed or rely on smaller projects. These guys wouldnt have lasted long. Other studios like Evolution were assigned by Sony to make specific projects and received assistance. Again they didnt appear like anything significant. Until Sony bought them and funded them. Naughty Dog's work was passable and was pretty much ignored until Sony published Crash Bandicoot on PS1 which took advantage of the hardware in unique ways. Then Sony helped them grow and become the juggernauts we know.I completely agree. It is a little sad that it's preferable to buy entire companies than grow your talent internally, but that does take time. It seems like nobody has the patience to organically grow capability anymore.
The majority of PS studios were never missed or given much attention until Sony made them what they are