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Good thing this isn't a Sony owned studio or we would currently be engaged in a doom fest :p

Sad news though, it's never nice to hear about these sorts of things. I do hope they go back to being "old rare", but at this point I don't think it's possible. They may hold the Rare name, but it's a completely different developer now. That's not to say they can't start making great games, but I think expecting them to become what they used to be again is unreasonable.