Mixed feelings tbh. I am happy for them if they can have more freedom to be and do whatever they want but this studio in particular is the type of studio MS should retain at almost any cost because as many studios as Xbox now has, no other can do the type of games they make. If they want to develop their own IPs, Crash and Spyro are as good as dead for this very same reason.
I hope the deal with MS is Banjo. The fact they are now a third party studio matters the least, especially if you consider where Xbox seems to be heading.