First things that come to mind after sitting with this for a few minutes:
Now it makes a whole lot more sense as to why there wasn't a direct Halo crossover with Destiny 2 for the 30th anniversary event.
I still absolutely hate the trend of consolidation in the industry, regardless of who acquires what. I don't trust these huge companies to just say fukk it and do whatever they want once they're the only ones standing.
That said, this definitely benefits both sides. Bungie was looking to expand Destiny into a multimedia franchise, but honestly didn't have the structure to do it. Now, they do. Sony needed a studio with multiplayer expertise in house desperately to be able to round out their offerings. Now, they've got it.
This feels 100% like leverage for CoD/Activision. I don't spend money on the game outside of annual expansions, but apparently Destiny 2 makes decent money. So now, both Sony and Microsoft have a vest interest in success of products on another platform, should they keep things the same.
Details on Bungie's next game aren't all that well known, but it's supposedly a multiplayer title, as allegedly the lack of steady additions to the Crucible has been due to a lot of that staff moving to work on this new project. Either way, don't expect to hear anything about it until closer to when Destiny 2's final expansion for this phase of the game comes out in 2024.
Using the same optimism from the Activision purchase, this does open things up to cross development, assuming Bungie plays ball. A game in the Destiny universe developed by the Naughty Dog b/c team could be pretty solid, for example.
Freedom.
They didn't make the same mistake twice letting their Publisher own their IP (what happened with them and Xbox over Halo). They own the Destiny IP, not Activision.
Facts. And them holding on to that chip definitely pumped the value of the company. I just hope this doesn't turn into their last two situations where they gotta pull a houdini and get out of another deal.