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Xbox's biggest crisis right now isn't games. It's hardware. (Opinion - Jez Corden)
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To state one last time, my perspective is that all exclusivity sucks, but it's better that Microsoft buys them than for Sony to have an uncontested high-end console market. That is not me taking Microsoft's "side". It's me not wanting a monopoly.
Acquisitions are what leads to a monopoly.
Currently, these acquisitions are preventing one.
No they aren't. First of all, because Sony is not monopolizing the market. Microsoft is there and so is Nintendo. There is a difference between being a market leader and being a monopoly. Sony doesn't actually control SquareEnix, they can release games for different platforms, which they do. Octopath Traveler II is multiplatform, Dragon Quest Treasures is a Switch and PC release.
The horror scenario of Microsoft leaving and Sony dominating everything isn't going to happen. Xbox is just half as popular as Sony, which is still a sizable chunk of the market.
But lets say it goes as you wish, Microsoft bravely acquires most of the market to match Sony... and then they just keep buying. What do you get then? Microsoft will be able to just tell Bethesda and ActiBlizz not to release for any other console, and refuse any deals.
If you are a Linux user you should know that MS doesn't stop at what's reasonable.
Still, that's not saying that Sony is acting fine. Which is why I believe they should be prevented from making exclusivity agreements for games that aren't entirely funded by them.
Just because this acquisition was let through does not mean all future acquisitions go through. They're under too much scrutiny now.