Naughty Dog are a California-based studio founded in 1984, 10 years before the PS1 launched. They're also one of the earliest to join PS Studios as Sony acquired them in 2001 - an easy decision considering the critical and commercial success of their Crash Bandicoot IP on PS1.
ND continued to find success on PS2 with the Jak & Daxter IP. But it was on PS3, with Uncharted 1-3 and The Last of Us, where their prestige grew to the point that many consider them the best first-party developer. This pedigree and success continued into the PS4 era with critically and commercially acclaimed sequels/remasters across their PS3 franchises. Unfortunately, PS4's final year is also where ND's ascent ends, as their output on PS5 so far has been incredibly disappointing.
So far, ND have only shipped remasters or remakes of Uncharted or TLOU games. While they received noticeable graphics and framerate improvements, they're somewhat unnecessary as the PS4 versions still play great on PS5.
ND should've already released their first new PS5 title, The Last of Us Online, but it was cancelled 4 years into development. ND claim this was because they realized creating a live-service would permanently change the single-player studio, as they would need to continue feeding it with new content. While this mismatch should've been obvious, ND wasted over half the PS5 generation on a project that should've never been greenlit at that scope.
Fortunately, ND announced a return to their single-player roots with their first new IP since 2011, Intergalactic: The Heretic Prophet, in 2024. It's a religious-themed, third-person action-adventure that takes gameplay inspiration from Elden Ring and is likely launching in 2027/28.
Intergalactic should retain the industry-defining quality ND are known for. However, they're releasing just 1 new game on PS5 that ships in the console's final years, resulting in other PS Studios like Insomniac, who will ship at least 4 new PS5 titles, overtaking them this generation. This would've been unthinkable when TLOU released in 2013. Hopefully, Intergalactic gets ND back on track and they return to form on PS6.

Genre: Cinematic Action-Adventure
Release Date: Jan 28, 2022
Days Since Their Last Game: 741
Metacritic Score: 87
Genre: Cinematic Action-Adventure
Release Date: September 2, 2022
Days Since Their Last Game: 218
Metacritic Score: 89
Genre: Cinematic Action-Adventure
Release Date: January 19, 2024
Days Since Their Last Game: 505
Metacritic Score: 90
Genre: Cinematic Action-Adventure
Release Date: TBD
Days Since Their Last Game: N/A
Metacritic Score: N/A