IF it worked, you would be playing on the 360 servers. The disk doesn't upgrade the game at all, and it would play it exactly if you were still on the 360.
That said, what's keeping games from being added to the backwards compatibility list is Microsoft not having the permission of the company to add it. Unless the game uses 360 kinnect features, that's the only thing. I doubt a game like Destiny would give permission, seeing as they have a xbone version and would like to make money from you buying it again.
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