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I think it is, and here are my reasons why...

1. Microsoft would have never invested the crazy amount of money in to Halo 4 had Bungie been involved. Meaning that presentation and sound would not have been as good as they are. Gameplay would still be killer though.

2. I believe Bungie and their vision of Halo as a massive blockbuster AAA game peaked with Halo 3. ODST and Reach were both interesting, but they felt more like side games, not the main event.

3. Working on the same franchise for 10 years takes a toll on your creative vision. It's would be harder for Bungie to reboot the franchise than for a brand new team.

4. Games that feel and play unique like Halo are very rare these days. With Bungie gone doing their own game, and 323 studios doing such an awesome job with their first Halo game, we may end up with 2 amazing franchises on our hands. 

What do you think? Yay or nay?