I don't think CoD is say in a Pokemon brand situation, CoD has harder competition, and in fact it looks very likely that Battlefield could outsell CoD this year.
I expect that CoD will just have a slow decline from here on, not only competition from the likes of Battlefield, but also from a demographic perspective, younger players will ever more trend towards stuff like Fortnite compared to CoD, so when people age out of gaming and CoD, they won't have enough new players to replace the ones leaving. This will happen over many years so the yearly sales won't shift much but i think CoD has seen its peak in terms of sales and popularity.
The Activision purchase is a far bigger version of what Sony did with Bungie, buying up something that will only continue to decline afterwards, the main difference is of course that CoD is much more popular so the decline will be more gradual than it was for Destiny.
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