What do you want then?
Projects like Astro Bot and Stellar Blade sell about ~1M copies.
That's the range of sales that got studios like Zipper, Evolution and Japan Studios closed, because Sony can't sustain their business with such low revenues.
Something around that yeah.
Unless spending 200m or above in projects that "might" be sucessfull(being very generous here since we are talking about GaaS, a very high risk market) seems like a good idea to you.
Stellar and Astrobot might not be the "best sellers", but they take advantage of the word of mouth marketing and will gain more revenue overtime when the price seems more attractive.
GaaS on the other hand is a gamble. Unless someone is willing to put great effort to catch the custumers and retain them, you will not see returns, only more money being burnt. Dunno how many times it has being said, but its not an easy task to hit the market like Marvel Rivals. They think its is, but its not. Thats why we had Concord.
Also Helldivers
has nothing to do with cancelations. Already stated that Helldivers have a good appeal, the resemblance and inspiration of Starshiptroopers, which is awesome. But Horizon? Whats their appeal?