Navigating the Financial and Developmental Trajectory of Destiny 2
Sony's recent public comments, and one from their earnings presentation, has corroborated the long-held anxieties of the community concerning the failure of Destiny 2. The company has maintained that sales figures and user engagement, in general, fell way below projected figures after the acquisition of Bungie. That statement officially on November 11, 2025, became the nail in the coffin to a long-settled issue of player counts at an all-time low the game has endured since the post-peak engagement following the Lightfall expansion.
Sony blamed the shortcoming, in part, on the change in the competitive landscape. To this extent, the company has resolved to revise the business projection and recognize a considerable impairment loss against some portion of Bungie's assets.
The Reality Underlying the Valuation
While these figures are disappointing, the story surrounding the purchase of Bungie for 3.6 billion—a studio that up until then had been relying chiefly on one live service game, now five years old—was always a very risky proposition indeed.
My Opinion on the Situation:
However, in terms of context, it is vital to understand that the impairment loss amounted to 204 million dollars, not cash lost by Bungie, but that Sony, in the eyes of the public, is now reassessing its valuation of the studio, deeming its current worth 204 million dollars less than it originally calculated. This is just an accounting correction that indicates downwardly revised projections for revenues going forward, particularly for Destiny 2 and whatever else comes next.
The core assertions surrounding the valuation and player experience are as follows:
Expectations vs. Reality: While the Lightfall expansion peaked with record concurrent players at launch, its formerly seasonal content cycle saw those numbers dwindle. The Final Shape saw record lows in player counts following the conclusion of its two-season initial arc.
Unreasonable Expectations: Many analysts, including myself, viewed the 3.6 billion valuation as exorbitant. It depended not only on the unbroken success of the ongoing game but also on future titles such as Marathon, which had yet to prove themselves. The expectation also encompassed Bungie's ability to shepherd other Sony studios in developing successful live service games, a task they evidently have not performed well at, as evidenced by the cancellation of Naughty Dog's Last of Us Factions.
Signs of Hope: Yet, in spite of the financial woes, there are good signs. The return of key personnel, such as composer Michael Salvatori from retirement to contribute to the music, indicates that the project has enough creative interest to tempt some familiar faces back.
The Future of the Franchise and the 'Classic' Proposal
Sony is still marching on in promotion of Marathon as a major upcoming release, holding that it will release sometime in the upcoming year. However, the worries surrounding the performance of Destiny 2 raise doubts over the next title's ability to fill the very high shoes it is expected to.
In Support of a Classic Destiny: A True Flip of the Script
This present course of development of Destiny 2 is not sustainable. Bungie must take lessons from how other long-lived MMO-adjacent offerings have made an exit from night. I second bringing forth a Destiny Classic experience—a line used with success in others such as RuneScape, which revived its community by launching an "Old School" version.
This is not a normal temporary throwback. This would undoubtedly be a slow, somehow sustained roll-out over an 18-month period, starting with the original Destiny 1 sandbox:
Original Sandbox Activation: Launch with a quickly recognizable powerful sandbox from Destiny 1, including the only well-loved trifecta of Thorn, Last Word, and Hawkmoon.
Content Rollout: Carefully re-introduce the core first game content in phases—Vault of Glass, The Dark Below, The Taken King, and Rise of Iron.
Immediate Cash Grab: This is going to my unshakable conviction—from nostalgia-wise—just skyrocket to record concurrent player activity on Steam.
This "Classic" version could serve as a key bridge for the franchise to honor its paternal legacy while Bungie works on the next major iteration (possibly Destiny 3), provided, of course, that it is still practical to develop a true sequel.
Talking About the Core Design Philosophy of Destiny 2
The present design philosophy has done extensive damage to the community. An illustration is the present line that raiding content is bad since it is "not solo friendly." These thoughts are a misapprehension of the appropriate architecture of the game.
An Absolute Need for an MMO-Shooter Identity
Developers have to accept and espouse the MMO-Shooter identity with which the game has always identified itself or perhaps, from which it has unwittingly dialed back.
Pinnacle Content: Historically, whether in Final Fantasy, or the original Halo cooperative modes, end-game pinnacle content is designed for teams. The idea of a large-scale raid being solo-friendly directly contradicts the genre design.
Division of Focus: If Bungie insists on making Destiny 2 maximally accessible and casual—focusing on solo experiences and content—then a different project, like the proposed Destiny Classic, must be initiated for the dedicated and hardcore player base waiting on all the complex team-based challenges and original sandbox power fantasies. This way, both segments of the market can be compensated without tarnishing the design integrity of either.
Bungie must decide the long-term course of Destiny 2. If they choose to embrace a genuine evolved MMO-shooter (which would likely require serious engine and core systems updates), put both tank treads forward; stop split-treading. The current system of trying to please all players at once is chiefly on the path to causing Sony to write off Destiny 2 for its financial performance and player engagement.
