I think some are missing half of the equation here :)
I believe the Act/Blizz is really on point; valuations are about revenues not how popular IPs are or how high they are in the charts (charts are really only a fraction of what is going on).
Plus, the slumping numbers for Acti-Blizz recently will all change after this holiday. So many are thinking this is the end, when it's just based off a bad CoD release. 2019 Modern Warefare set records for Activision in every conceivable way. 2022 Modern Warefare 2 will be no different.