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Gaming hot takes?
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I don't really see how doing first-party development and acquiring third-party IP is functionally different. Nintendo still isn't going to release a Zelda title on other platforms.
Maybe there's a human psychology element there -- if a title already was available across platforms, I feel like I "lost" something. With a first-party title, I never had it in the first place. Humans do have loss aversion, are more upset about losing something then not getting it in the first place.
But it seems to me that any rational economic restrictions on acquiring third-party IP to do exclusives should also apply to first-party development.