Yes, but Bungie is developing it. If Activision developed it, I wouldn't buy it, trust me.
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Activistion doesn't develop they pay developers. They paid developers for COD and they payed bungie for destiny. It's the same people with the same vision that is paying for COD and it's the same people with the same vision paying bungie for destiny. So if you insult COD you are insult the same people that brought you the game you love so much.
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Destiny could have found another producer if they wanted to. Yes, they chose Activison for a publisher to save a little bit of money, but otherwise they could have chosen any other partner.