For several years now, Sony has avoided E3 as its central gaming event, not only because of the current coronavirus pandemic; even before that, they had decided that this format was no longer suitable for presenting their own games.
According to industry analyst Michael Pachter, this is a huge mistake and makes Sony a "biggest loser" of the event, simply because they neither participate in it nor offer any alternative. That is extremely “dumm“, as he in the current edition of his SIFTD Games Show manifests.
Cost savings as the reason?
At the same time, Pachter suspects that the costs of such an event play a role here. Sony could save around $20 million by not participating, which, in his view, reflects the value of the press coverage gained. Such an event has a "inestimable value"Especially considering the impressive shows Sony has always delivered at E3. That's something you really miss now, even though they have a team of experts who know exactly how to utilize such an event.
Indeed, something is somewhat lacking, especially when you think back to the mega event of 2016, which shattered all previous records. The pre-recorded State of Play shows and the like, by comparison, are just a gentle breeze, lacking any on-site enthusiasm and making the presentations inherently less spectacular.
What Sony is currently planning as an E3 replacement remains uncertain. The speculated July event has not yet materialized, and for gamescom in August Things aren't looking too great at the moment either, and Sony will probably not officially participate.
The only hope lies in a new PlayStation Experience, for which a new trademark registration was recently spotted.

He's right.
Pachter is the biggest loser ever.
Dude, this guy probably has 1000 or 2000 clicks on YouTube, and his opinion is being blown out of proportion in an article on a platform like this? Come on. Stop giving idiots like that a platform.
And what if you don't have much to show? I'm just thinking of E3 2017 and 18.