Stunning fall. For a while Blizzard could do no wrong. I feel that Bobby, the CEO, is very focused on results and only understands gamers third hand at this point.
That works for a while when the employees still care but once they stop caring there is no one to steer the faltering ship.
Maybe one factor is that among all Activision-Blizzard subsidiaries Blizzard makes the least amount of money, around 1/5 according to the Q1 profits. Both Activision Publishing and King make far more money by expanding into the most lucrative game sector: mobile games targeting China. The one mobile game that Blizzard is making in collaboration with NetEase (the infamous Diablo Immortal) is yet to be released. It is far more likely that CEO (and by extension company shareholders) wants to dedicate more resources to expanding into mobile market than all those old and dwindling franchises that Blizzard has.
That works for a while when the employees still care but once they stop caring there is no one to steer the faltering ship.