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G2ThaUNiT said:

Yeah I think you hit it on the head. Bungie talked about Project Gummy Bears late last year based on what had been previously leaked. Since it's an incubation project, it'll allow Sony to have more control on how the studio and the project is handled. Plus, Matter was cancelled in 2020, so there's not many other options as to what this project could be.

Meanwhile, we're just hoping Bungie doesn't drive itself further into the ground. Seeing the mass hatred for the current CEO from former Bungie devs, I wouldn't be surprised if he ends up stepping down soon. 

Its a somewhat good sign that Sony actually plans to retain over 200+ employees from Bungie rather than letting them go. But its a bit wild Pete Parsons is still in charge. Maybe he's waiting for his final payout before officially leaving.