They’re continuing to “let” Bungie release games on Xbox.
Something that’s missed in a lot of these discussions is that part of the reason Sony might be motivated to buy a publisher like SE is to open up a revenue stream on other consoles (read: Switch). It isn’t always about buying up exclusives. Especially when one of those “other consoles” has been hugely successful and is dominating a geographic market Sony seems to be doing less than stellar in.
It’s the same reason Sony Music has long published their anime tie-in games on Nintendo platforms, and the same reason Microsoft wouldn’t have spent $70B on Activision just to make all their games exclusive to Xbox (and thus destroying a lot of the value of what they just bought). That would have been a boneheaded, Ballmer-esque “buy Nokia to try to prop up Windows Phone”-style move.
I think, in the unlikely event that Sony buys SE, Sony’s going to be pretty hands-off and SE is going to steer their ship pretty independently.