I doubt it. I'm sure Bungie had reasons for wanting to leave Activision, but Destiny was the project they pitched to Activision, not the other way around, and a lot of the problems I still have with Destiny after all the work they've sunk into it are still inherent in the concept.* I think as the size of teams keeps getting bigger, you keep getting forced to chase the lowest common denominator in the market -- it's a shooter, it's RPG, it's multiplayer, it's open world. A Bungie that was looking to recapture the early days would have to lay off almost everybody and start doing indie games, and I don't see that route earning back the money it must have cost to buy out Activision.

* The shooting is still as good as it was in the Halo days, but the need to constantly grind for gear to progress really kills the way you would acquire new weapons in Halo and learn how to use them in concert. There's so many more weapons in Destiny, but it doesn't feel like you have the same sort of choices you had in Halo.