You can't blame Sony. The Bungie management were inside the building torching everything long before that deal was finalized. The worst thing Sony did was not firing the entire C-suite to try to contain the fire.
Edit: For everyone downvoting me, here is the evidence that Bungie's C-suite destroyed the studio, not Sony. This problem predates Sony by years.
When Bungie split from Activision in 2019, Activision's COO explained it on an earnings call:
"Destiny is highly critically acclaimed, high quality content, but it was not meeting our financial expectations." That's partner #1 walking away over finances.
GameSpot
Then Microsoft, a company that previously owned Bungie and knew them intimately, put Bungie on their 2021 acquisition watchlist but passed. Internal Microsoft documents revealed during the FTC v. Microsoft court hearing show they flagged Bungie had a "high burn-rate" risk, meaning they were spending more money than they could make back. Microsoft knew the books and said no. Sony didn't listen. [Windows Central] (
https://www.windowscentral.com/gami...-acquiring-bungie-and-sega-for-xbox-game-pass)
Sony was misled by Bungie leadership. Investigative reporter Stephen Totilo (Game File), speaking to insider sources, reported that Bungie's leadership overstated their financial prospects to Sony. Sony paid $3.6B based on promises Bungie's C-suite couldn't back up. [Bloomberg/Schreier] (
https://www.bloomberg.com/news/news...and-destiny-faces-reckoning-after-mass-layoff)
Multiple former Bungie developers have publicly stated that funds that should have gone into Destiny 2 "went into leadership pockets." One ex-dev said directly: "You're not understanding me. We're saying it went into leadership pockets. You should be pissed, but keep the blame where it was." [Windows Central] (
https://www.windowscentral.com/gami...-issues-as-destiny-2s-final-update-approaches)
Meanwhile, CEO Pete Parsons spent $2.4 million on 25 vintage cars between 2022 and 2024, verified by cross-referencing auction records on Bring A Trailer with photos of Parsons' personal collection. This happened across both rounds of mass layoffs. [PC Gamer] (
https://www.pcgamer.com/gaming-indu...-414-550-on-vintage-cars-in-the-past-2-years/)
Leadership lied to employees too. TechCrunch interviewed laid-off employees directly. One said:
"It kind of feels like upper management is being very two-faced about it. Like they're telling us one thing, but behind the scenes, something else is happening." Bloomberg's Jason Schreier, speaking to ten current and former Bungie employees, reported the company used Sony's money to inflate headcount and chase multiple projects simultaneously, stretching itself to breaking point. [TechCrunch] (
https://techcrunch.com/2024/07/31/b...y-were-caught-off-guard-by-17-staff-reduction) [Bloomberg] (
https://www.bloomberg.com/news/news...and-destiny-faces-reckoning-after-mass-layoff)
One producer found out she was laid off the week her maternity leave was supposed to start. The work culture was rotten long before Sony. In 2021, IGN published an investigation based on interviews with 26 current and former employees detailing crunch, burnout, sexism, racism, and leadership protecting bad actors. The fallout was so severe that Bungie's head of HR resigned, writing in her goodbye email that the company needed leadership "largely comprised of people new to Bungie." [Axios] (
https://www.axios.com/2021/12/16/gaming-bungie-hr-head-steps-down)
The problem followed Bungie's C-suite across every single relationship. Microsoft, Activision, and now Sony.