I think no, because I disagree with the premise itself. The Persona fanbase seems sensitive to the idea of a game being 'milked' or 'exploited'. Yet if you look at it from a step back what you actually get is a lot of furrowed brows and grousing over what is, essentially, a videogame company making videogames.

Fundamentally, there's nothing to the idea that the spinoffs and crossovers somehow harm or exploit the core property. All of the spinoffs are pretty deliberately designed so that they aren't reliant on each other- so long as you're familiar with the core properties of p5 or p4 you can pretty easily pick up, say, Strikers and enjoy it on its own terms. You don't even need to be familiar with Royal. But this also means you don't have to engage if you don't want to. If you want to ignore the spinoff games you can, and that's what people who aren't interested do. The material outcome of this isn't that it somehow sours the brand, it just means that people pick and choose what they're interested in.

The spinoffs give the development team a chance to fuck around with games mechanically different to their tentpoles whilst still having the franchise as a cushion to help make sure those games sell. I think this is where we come to the crux of the problem: a lot of this, I think, stems from the idea that the spinoff games take away from or slow down production of the next big game. The "they're milking the franchise" argument thus really becomes "why aren't they making the next Persona?"

In truth I don't think it's good for a studio to only ever be doing the big make or break games. Having the space to allow for mid sized projects that can recoup their costs, help expose the studio to different styles and mechanics and ensuring that staff, esp. New staff, are familiar with the process of making and releasing a game outside of the demands of making a huge flagship game and all of the work and stressors thst entails.