Bloomberg journalist Jason Schreier discussed the major layoffs at Bungie that took place this week. Rumors began circulating online that the studio had also canceled the development of Destiny 3, but Schreier stated that this was not the case.
Just to clear up some rumors floating around, Destiny 3 was not canceled because it was never in development, per people familiar. Bungie did some very early work on a spinoff project called Payback, but they canceled that a while ago. I'll have a story tomorrow with more info
At the same time, Schreier commented on the cancellation of the online game in The Last of Us universe. Recall that Bungie, with extensive experience in developing service games, was not confident in Naughty Dog's new project, after which it was decided to put it on hold. In this regard, one of the users asked Schreier how a studio «that hasn't made a good game since 2010» could influence such an authoritative studio.
Bungie gave Naughty Dog feedback that Naughty Dog found extremely helpful when making what was likely a very smart decision to not go all in on a service game. People lamenting this cancellation should really look at the history of single-player studios pivoting to make service games such as Anthem, Suicide Squad, Marvel's Avengers, Redfall, and so on.
Prior to this, Jason Schreier released a more extensive investigation detailing the reasons for the failure of Suicide Squad.