Current Status: Though you can assume that Bungie's "10 year deal" with Activision was to release sequential Destiny instalments all the way to 2024, the reality is that is actually expires in 2020. This is almost besides the point as the franchises's plummeting popularity is more disastrous than any business mandate, but it's worth noting that Bungie are already behind on schedule, and even then, it's highly unlikely the series will still be going strong after this decade concludes.
Speaking of its popularity, Destiny has gone from one monumental disappointment to another. From a threadbare release state reliant on DLC and patches to make it worthwhile, to paid-for ammo types, a grind-heavy, unrewarding mentality and endless balancing issues, you'll struggle to find anyone calling themselves a "Destiny fan" who's actually pleased with their purchase.
The Future: As mentioned, Destiny is in a terrible place right now. Its player base continues to fall off the face of the Earth, as Bungie's PR messaging as been straight-up off-putting. There's no meaningful story to further after Destiny 2 phoned in the most generic "stop the big evil alien" narrative possible, and that's before you get to the realisation that Bungie as a team of creatives are fundamentally not what they were across the 2000s.
Destiny is already done. It'll continue to get played through sheer hope of a truly rewarding experience over the horizon, but the reality is... Bungie are incapable of turning this around.