But it does change the narrative, because it wasn't Bungie that got Factions killed.
ND came out and literally stated that they couldn't support a live-service game due to them being a singleplayer-focused studio:
"
In ramping up to full production, the massive scope of our ambition became clear. To release and support The Last of Us Online we'd have to put all our studio resources behind supporting post launch content for years to come, severely impacting development on future single-player games. So, we had two paths in front of us: become a solely live service games studio or continue to focus on single-player narrative games that have defined Naughty Dog's heritage."
www.naughtydog.com
So, there is nothing to guess.