From what I can gather based on what I read, Sony isn't really buying Bungie for IP. They are buying them for their online gaming/gaming services expertise. Sony really doesn't have an IP issue, they have a man power issue when it comes to their online multiplayer infrastructure and services and Bungie has a staff of 900 employees with experience and expertise in these areas. These are areas where Sony is decidedly not strong in. As primarily a PlayStation gamer, I'm pleased with the acquisition because it does the most important thing that acquisitions like this should do. It fills voids. It meets needs. Did Sony overpay? Yeah, probably. But why should we care? It's not our money, LOL. Sony's not stupid. I'm sure their "bean counters" weighed the cost vs benefit and determined that it was worth it.