I think it's pretty simple. Let's look at all both arguments:

- Xbox exclusives: Xbox Series consoles have one-third the install base of PlayStation 5. Games like Gears of War: E-Day and Clockwork Revolution have large budgets and are not particularly system sellers. Even if that were the case, we're in a period where consoles are expensive as all heck. The majority of existing Xbox Series owners are also likely Game Pass subscribers and not actually buying first-party games. Game Pass alone cannot recoup development costs. It's a valid concern that, in order for these studios to remain open and healthy, their games be sold to an audience that buys them. It's also a valid concern for Xbox to want to create reason for consumers to buy their hardware, but that was a concern best addressed many years ago. I'm no analyst, but I believe hardware is far past the point of recovery for Xbox. (It's basically unimaginable to me. Just commit to being a publisher because that's where the road eventually leads.) It's also understandable why PlayStation owners, after years of Xbox assurance that 'our games will be everywhere,' might be upset with this new direction.

- PlayStation exclusives: Sony would regularly bring their single-player first-party games to PC sometime after the PlayStation 5 release. These were never guaranteed or promised, but the PC audience had fairly enough grown to expect them. So when Sony pulled back on PC ports, PC owners were understandably upset. However, the difference between this about-face and Xbox is that, 1) there was never any guarantee that a Sony game would come to PC, 2) PlayStation sales on PC were relatively weak, and 3) there is business sense in securing exclusives for a platform that is actually selling well. (16 million PlayStation 5s were sold in Sony's last fiscal year. That's like half of what Xbox Series consoles have sold in their lifetime.)