It definitely means the game is over, but it doesn't mean a sequel is in the plans, and with Bungies financial predicament I very seriously doubt it
They might not even exist has a company this time next year , so I doubt a D3 is in the plans
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I definitely see Sony taking over but fully dissolving a storied name like Bungie seems a little extreme at the corporate level. Bungie is synonymous with the greatest era of Halo so that's excellent marketing power. That would be one heck of an investment that Sony is just tossing aside. Sure they got swindled hard. But the Bungie name is too good not to keep.