Actually, the demise started long before then.
Bungie were unable to meet the contractually agreed upon delivery schedule for updates / expansions, so they pitched EV to AV as a way to make up for the lost revenue from not being able to meet the contractually agreed upon delivery schedule for updates / expanjsion.
Bungo then realised this was easy quick effortless money they could make.
And now...the EV dress sim is end game, and actual game content is lacking in every regard other than gunplay (which is getting stale now tbh).