Agree, Reach and Halo 4 rubbed me the wrong way. Wouldn't say Reach was an indictment of Bungie, though, think it was just them stretching their wings but limited by the franchise they were contractually obliged to develop. Audience expectations play into the disappointment, too.
Halo 4 is very much an indictment of 343, though. My pessimism for the franchise going forward hasn't been lower.
Pretty much my sentiments. Halo 3 online is probably the most fun I've had this gen and Reach and especially 4 just feel so far away from what made those couple of years in Halo 3 so enjoyable and replayable. So considering 343 seem to be galloping away indefinitely into the distance with their skewed take on probably my favourite franchise ever, I'm putting an awful lot of hope into Bungie and Destiny.
Come on you cunts, do it right.