They should have set the team to work on another new IP.

Oh well more people working on the next COD game

Activision needs to realize that not every game needs to be a multimillion dollar seller to be a success. Rather than closing a talented studio, they should have gotten them to work on several smaller projects. Maybe a Crash Bandicoot game in the vein of the original trilogy. I'm sure many Crash fans would have appreciated that. The success of COD has blinded Activision and it will eventually be their undoing.

Wonder if the same fate will befall Skylanders' developer if Skylanders: Giants has a sales stutter.

Sadly I doubt Activision would let them even attempt a new IP these days. 
Apparently they had in the last few years actually been working on Spider-man 4 but then obviously that fell through and was cancelled. 
A bourne game but Activision lost the license so it was cancelled
Scarface 2 which was cancelled. 
And a new crash bandicoot game which was.....guess what? Cancelled. 

So seems like in some ways they just got unlucky with losing SM4 and Bourne due to outside issues. No idea what happened with Scarface and Crash. Probably sales expectations weren't 5million. 

Also taken from a poster on neogaf here is a list of studios activision has closed this gen;
Luxoflux in Santa Monica, California, founded in January 1997, acquired October 2002, closed February 11, 2010.

Shaba Games in San Francisco, California, founded in September 1997, acquired in 2002, and closed on October 8, 2009.

RedOctane in Mountain View, California, founded November 2005, acquired in 2006, closed February 11, 2010.

Sierra Entertainment in Los Angeles, founded in 1979 as On-line Systems, acquired from the merger with Vivendi Games, closed in 2008.

Underground Development in Foster City, California, founded as Z-Axis in 1994, acquired in May 2002, closed February 11, 2010.

Budcat Creations in Las Vegas, Nevada, founded September 2000, acquired on November 10, 2008. Closed November 2010.

7 Studios in West Los Angeles, Salt Lake City, Utah and Taipei, Taiwan, founded in 1999, acquired on April 6, 2009. Closed in February 2011.

Bizarre Creations in Liverpool, England, founded as Raising Hell Productions in 1987 and changed name in 1994, acquired on September 26, 2007. Closed February 18, 2011.

Radical Entertainment in Vancouver, Canada, founded in 1991, acquired by Vivendi Games in 2005. Closed June 28th, 2012.

Pretty crazy amount. Especially bad is how some are acquired then in a few years closed. Also some odd ones there. Like Shaba games who it seemed were tasked with handling Spider-man. Made a fine game then were ditched and all Spider-man stuff switched to Beenox. 

It's also worth remembering that Activision are the people who ditched brutal legend when they merged then tried to block the release. They also are the ones who took black lotus, rebranded it as true crime and then dumped that too. Which I'm pretty sure did that game a fair amount of harm as it has attached the negative stigma of true crime to a new ip.

So, is it safe to say now that InFamous won?

That is what everyone said about Tony Hawk and Guitar Hero, Activision has always been like this. 

Yep.

Activision is in the business of making money. And Sony... well they're in the business.

A studio that had been around in the industry a long time just went under with a lot of people now being unemployed and that's the comment you want to make? Good grief I wish this site had an ignore list. 

Now they can pump all their money on Call of Duty.