Yes and no?
It's really hard to tell what the future will hold for Blizzard's IPs. Starting with Mohjang and Minecraft 8 years ago, Microsoft is pretty hands-off on its acquired game companies. The XBox lead probably gets a green-light decision for projects, and it's almost certain that Microsoft WILL enforce HR standards like for sexual harassment or whatnot and that's definitely good; but aside from administrative stuff like that, the game studios are pretty much left to run themselves. If the studios do well financially, Microsoft sits back happily and collects its cut. If the studio starts failing, Microsoft will tell it that it needs to stop failing, and if it can't find a way to do that, eventually Microsoft will downsize or close it.
The good thing about this is that Microsoft doesn't "ruin" IPs by buying their studios and then micromanaging or interfering with the games. But the downside (or maybe "neutral" side) is that if Blizzard's stuff is already meh, Microsoft buying them isn't necessarily a sign that the games will improve.