It was recently reported that Bungie has started very early development on Destiny 3, and that they don't want the second game turning into a dead live-service game. What a third game and the new direction they're taking with Edge of Fate means for the ongoing Fate Saga is unclear, but one possibility is that more older content may be vaulted. To avoid this, Bungie could follow the World of Warcraft Classic model, and release a new game that remixes older content. And with Destiny 2 reaching its 10th year in 2027, this could be the ideal release window.
If Bungie were to release an Anniversary Edition, it would still be a massive game. As the Light & Darkness Saga spans 10 years in total, this edition would be stripped down to 9 campaigns, 14 locations (including 1 hub, 21 strikes, 39 crucible maps, 6 gambit maps, 4 protocols and 3 arenas), 14 endgame activities in those locations (7 raids and 7 dungeons) and the exotics from individual seasons. To keep file sizes manageable, the rest remains vaulted and installing campaigns, locations and endgame activities becomes optional. To gain access, licenses from Destiny 2 could carry over.
However, this would leave the New Light experience fairly empty. To make up for that, Bungie could reintroduce the remaining locations from the first game and the endgame activities set within them. This adds up to 5 locations (including 16 strikes and 27 crucible maps) and 5 endgame activities (4 raids and 1 dungeon). On top of that will be the campaigns, locations and endgame activities from future expansions, if they're not moved to Destiny 3. Thus, choosing what's installed will be optional here as well. In this case, no licenses are needed and can be redeemed for Silver instead.
Still, the Leviathan is not yet accounted for. This location could return with the 10th Year Anniversary, with the Star Horse from Bungie's 30th Anniversary serving as in-universe explanation. Adding the locations associated with these packs brings the total of freely accessible content to 1 campaign, 8 locations (including 3 hubs, 16 strikes, 30 crucible maps and 3 arenas) and 11 endgame activities in those locations (6 raids, 2 raid lairs and 3 dungeons). Access to the locations from the expansions will also be free, while the campaigns, endgame activities, and exotics still require owning them.
A new medium
Another way to revisit the Light & Darkness Saga is by adapting it for the big screen. It would tell a slightly different story, as it wouldn't include the player surrogate Guardian. As the games are the player's story, this adaptation heads into a different, darker future. Instead, the movies would focus on the most important characters from the saga: Cayde-6, Eris Morn, and Elsie Bray. Other characters would be Ana Bray, Zavala, Amanda Holliday, Mara Sov and Uldren Sov/Crow. A companion tv show based on the Golden, Dark and City Ages could provide background on these characters.
Destiny: The Taken King follows the story of the first game. It opens with Cayde-6, not the Young Wolf, clearing the Skywatch and activating the Array to reconnect with Rasputin. He discovers a Hive infestation, leading to Eris Morn’s involvement. Joined by Elsie on the Moon, the trio defeats Crota, only to be warned that Oryx is coming. They seek aid from the Awoken, but Queen Mara Sov will only help if they defeat the traitorous Skolas. When Skolas falls, the Awoken join the fight against Oryx, but he still breaks through, kills Mara, and enters the Black Garden. However, the Guardians still manage to defeat him.
Destiny: The Witch Queen starts with Uldren Sov staging a prison break, alerting Cayde-6 and Eris. It is a trap however, and Cayde-6 is killed. Eris follows Uldren to the Dreaming City, where he attempts to free Mara from the Ascendant Realm. Instead, Savathûn emerges and kills Uldren. Eris chases after her, but is overwhelmed by her forces. She seeks out Elsie on Europa, where the two steal Stasis from Eramis and receive a warning from the Witness. Eris returns to confront a light-wielding Savathûn, while Elsie helps defend the Last City from Eramis. Both succeed, but Eris mysteriously vanishes.
Destiny: God of War Vengeance finally sees the Witness arrive, with former Cabal emperor Calus as its disciple. Calus travels to Neptune, with Ana, Osiris and Crow in tow, where he activates the veil, enabling the Witness to breach the Traveler. The Coalitions follow him, but only manage to defeat the Witness when his power is siphoned away. Ana and Elsie trace the energy to the Moon, where they discover Xivu Arath and Eris, now a dark Hive god, being behind it. A final battle erupts, but ends when the Traveler suddenly erupts in light, sending Elsie back in time and resetting the timeline.