I can't help but think Bungie was a victim of its own success. They had this grand vision for Destiny, which many thought would never get off the ground (and it almost didn't).
The reality is, Destiny 2 was falling off due to a weak DLC combined with the perfect storm of a great gaming 2023. The past couple of years, D2 was my game because there wasn't enough to fill that space. This year? My playtime was way down this year before all this, and the numbers back up the same for most.
I think Sony jumped on the money train a day late and a dollar short, and they are at a series that was already ending. Now, there's no Destiny 3 on the horizon. You know they want that big Destiny live service money, but that's not going to last forever.