Yup, as well as helping with funding of Sunset Overdrive, no? We know they are assisting in funding development of Tomb Raider. But just because they are investing, time, resources, development and co-publishing in a title, that doesn't mean it remains exclusives (see Tomb Raider).
Any game is up to any developer, unless there is money that exchanges hands to prevent their game to show up on a different platform. MS appears to have exchanged some cashola to prevent Ryse and DR3 from showing up on non-Microsoft platforms.
I don't agree with the "content held back" assumption. That is a budget that is completely separate from the game budget. I agree with you regarding the year long exclusive of a third party game not being consumer friendly. I also think it is just as consumer unfriendly for a third party game that is part of a series to get full exclusive rights as well. Exclusives should be saved for non-third party games. It does not benefit the consumer other than possibly a better quality product because they are able to focus on less platforms. Both are anti-consumer scenarios and both suck. Sega fans?