“This week, to learn more about what happened and what comes next, I spoke to ten current and former Bungie employees, who asked not to be identified because they were not authorized to speak to the press. They described a company that grew too fast and tried to develop too many projects at once, spreading resources too thin rather than prioritizing its chief moneymaker, Destiny 2.
Most of the people were critical of Chief Executive Officer Pete Parsons, saying he had failed to take accountability for his own bad bets and that he’d been overly optimistic in his communication with the staff. Some said Parsons and other company leaders spoke of “Bungie magic” — a confident mantra, similar to ones preached by other elite video-game studios, that they can make anything work out. (See: BioWare magic, Arkane magic, etc.)”
https://www.bloomberg.com/news/newsletters/2024-08-02/sony-s-bungie-maker-of-halo-and-destiny-faces-reckoning-after-mass-layoff