Can you blame them for being pigheaded? (I dont support it but just read on) They dominated Nintendo and Sega, the biggest gaming contenders back in the day, for like 10+ years. Sony essentially made gaming mainstream. But, yeah, like you said, that are arrogant, but they do deliver on most (not all) of their promises. Even with the PS3 supposedly being "dead on arrival" they essentially made a sinking ship float and give Microsoft a run for their money, literally (Microsoft spending $50 million on DLC is freaking asinine and like unreal...just to keep it from Sony). One of the reasons that I highly respect Sony and their products is because they really do deliver on promises and so far, they havent disappointed me.
Sony this gen just completely underestimated their competition and pretty much assumed too much.