SEGA is in the best shape they have been in since the Dreamcast failed. They still put out a rough game here and there, but their core franchises are strong. TBH, they are doing incredibly well as a 3rd party, especially considering where they came from post Genesis. Not to mention they are not just SEGA anymore and have some deeper pockets than most 3rd party companies in Japan from their arcade/pachinko business.
Compare SEGA to say Konami when it comes to making home console games, and its like two different worlds.