Literally nothing has happened except a Destiny 2 expansion which was badly received followed by the next expansion which was well received. The badly received expansion effectively helped Sony gain a lot more control over Bungie which might suit them in the long run.
Easily the worst acquisition made when comparing studio acquisitions by the three platform holders. Absolute waste of money as Bungie goes against the core foundation of Playstation. It's an awful fit all around.
I would rate the lowest of low. Nothing of value yet came and no projects exists to even judge. If anything it only cemented Sony stupid push for more GaaS, burning more and more money with the promises of "easy cash".
PlayStation boss Jim Ryan believes that Sony Interactive Entertainment's acquisition of Bungie is more valuable than Microsoft's acquisition of Activision Blizzard
Bungie may be doing amazing things behind the scenes but from the outside, it just looks like a series of losses.
They are supposed to be experts, guiding Sony on the development of gaas and all its resulted in is a series of canceled projects including the major disaster that was Concord.
Evidence would show that Bungie hasn't been successful behind the scenes as Sony has stepped in to manage the company.
At this rate, of Marathon isn't a success and/or Bungie can't start guiding others on successful services, I imagine they will be fully absorbed/ dissolved in a few years.