I thought it was terrible news. But Bungie is so much smaller than ActiBlizz - they have one active franchise in one genre and maybe another one starting soon in roughly the same genre. Meanwhile ActiBlizz has something like a dozen popular franchises.
It's like the difference between Comcast buying a small, local ISP vs. Comcast buying Verizon in terms of scale and number of people impacted.
To be frank, Sony seem to have bought Bungie more for its live service expertise than its IP. Not fond of this direction but it's hard to argue that Sony bought them to starve Microsoft of game releases - Bungie has like one franchise that's so-so in popularity.
It's like the difference between Comcast buying a small, local ISP vs. Comcast buying Verizon in terms of scale and number of people impacted.