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Hbomberguy did an exposé on this guy recently.
https://www.youtube.com/watch?v=yDp3cB5fHXQ
A lot of the people that worker on the "old" modern games of Bethesda have already left the ship, including the core group of devs and some of the leaders of various fields.
Most of them have called out the direction Bethesda have taken and some could not accept being bought by Microsoft.
But this also means that they are just Microsoft. if we look at a economical point of view now, you have to look at Microsoft overall.. even the Xbox Games Division (a branch) could have negative net income, even gross income and still be perfectly fine and helping overall net income..
Bethesda in itself is pointless to talk about, sicne they are not intertwined with other studios and they often work together and share resources, when they made projects for the console.. (yes they develop the games for console!!! not PC.. PC is just a bonus when porting)
If BGS don't produce profitable games in the future, which I think is likely due to their now tarnished reputation after FO76 and Starfield, I can realistically see Microsoft liquidating the assets and shutting down the studio. It's certainly not unheard of? Ever hear of Origin? Westwood? etc BGS's fate was sealed the moment they were purchased by Microsoft.
Well obviously... or they could just keep them around in a Bioware fashion.
The thing is, its pointless to talk about Bethesda as a singular studio anymore, since its not.. its part of a rather large games division under a big conglomerate.
Bethesda died when it was bought by Microsoft.. half its core devs (from the old modern games) are gone and so are the leads... Its going to be Obsidian all over again.
I don´t think its likely they will liquidate them, atleast not until after 2028 where they are scheduled to release TESVI.
TESVI will however be important for them.
If not, its a great start.