Sony like to reinvent the wheel a little too much.
The one thing that Sony is considerably behind on is streaming services. Microsoft and of course Netflix/Amazon have long been streaming and know what to do and what not to do. Sony isn't there ya. Their own service is a "download first, play later" adventure that is antiquated.
Given Sony is known for mismanagement and reinventing the wheel when it unneeded and expensive I predict that they will make costly mistakes for a while before this service becomes reliable, much less profitable.
But as others have mentioned Sony does have content so this is the right move. Maybe they need to buy someone away from Amazon or Netflix and offer them a truckload of money to help them learn how to do this right..