Destiny 2 itself will end permanently as we know, but I do believe this won’t be the end of the franchise however.
I believe the Destiny franchise will lay in a dormant state for the next decade kinda like how Doom was before Doom 2016 released. By then, Bungie would probably be long gone and non existent, but possibly a new studio gets Destiny and after a long dormant state gives us a new game
That’s just my theory however
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They’re waiting for talent to age up and be the new workforce, people in now are burnt.