1, [b](Re)Grinding[/b] - Think a big reason why many players don't enjoy grinding anymore is because the game loop has been very stale & predictable for years on end from a macro perspective - if the game doesn't considerably update itself on a semi-regular basis, people get bored/tired of the same old same old and move onto the new freshness somewhere else...
2, [b]Serving the Audience/Quality of Content/Management[/b] - Reality is, Destiny doesn't cater it's audience, it has previously tried to extract the most from the least possible resources, relying on gimmicks and cheap burn content on average - seasons/episodes are at a very poor quality and the team isn't agile enough to shift development at a fast enough pace due to poor management, institutional bloat and a of lack of overarching vision. I like Tyson Green and think their vision for the game is what's been needed for a long time, If this can be executed and at a pace that can retain/grow players remains to be seen.
3, [b]PR & Trust[/b] - As much as I like Destiny 2 for some things, Bungie has destroyed a significant part of their own fanbase. Goodwill and trust is sorely lacking, to the point many want to see Bungie fail due to the volume of their mistakes & perceived arrogance - Bungie is not a likeable company, as much as some might think this doesn't matter, it often has a large impact on overall game sales and marketing.
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Bungie's biggest problem is that they never try to get their priorities straight they want to juggle everything all together but they don't understand you have to decide what is more important. They need to what is best for the community not for a few streamers or do things to make a few active pvp players satisfied. bungie always wants praise from the wrong people who doesn't care about bungie nor the community/game. i seen players like this all over other games they sadist and sociopaths. These kind of players are the ones responsible for the failure of the community for active games like outriders and Anthem there was plans for Anthem 2.0 for PlayStation 5 which never happened because everybody left the game because of these kind of sadist players who only want the game to benefit them and they want to basically give the middle finger to the 80% of the other players. Most importantly if you look at the videos for Anthem 2.0 it is identical to the weapon tierrs for edge of fate. Except it was a revamp of the gear score in anthem.