Tencent and Chinese gaming companies have been trying to go legit for a while after dozens of mobile game clones. Historically I think they get GGG first and then buying the Torchlights dev and asking them to make the sequel online, so that's somewhat up to par with what they think good games are (basically online games with mtx). But recently they bought shares in Platinum games and Torchlight 2 sequel pivoted from online ARPG to a "normal" ARPG in Torchlight 3. And now they bought Otheside as well. There is rumor in Kotaku they are also hiring a long -time game producer that worked with Kojima (
https://www.kotaku.com.au/2020/05/report-hideo-kojimas-longtime-producer-joins-tencent/). Their investment in Epic also started as a dev for a popular MMO (Fortnite) but now spiraled out into EGS and I think Epic Game Publishing which will port console-only games to PC. I guess they really really want to expand to the gaming sector proper and just taking whatever they can.
EGS versus Steam discussion has probably done to death elsewhere in General Gaming thread so let's keep the discussion there.
In regards to Fortnite, while we never know what's happening in the background, but the quality of the game seems to be just the same before and after the takeover. Business practice wise, something like Battlepass and seasonal progression (which mostly unlock cosmetics AFAIK) are introduced, but that's on par with other F2P games even western ones like Dota 2 or even Fallout 76. It is also a business practice adopted by a lot of other F2P online games nowadays so it's pretty much a neutral point.
The other game that's "out" I think is Path of Exile. Business practice wise there is no changes after the takeover. Now the game itself has been stagnating, meta-wise, for the last few years. But you can't really say whether that's because Tencent is forcing them to keep the meta or the devs having no idea or unwilling to make major changes on how their game is played.
I am not sure whether any devs have finished a Tencent sponsored game besides those 2. Platinum rejected Tencent intent to publish their latest still in development work I think.
Looking at how Underworld Ascendant turned out there is nothing of loss by this SS3 takeover (besides NDS being pissed I guess). Otherside has been very incompetent from the looks of Underworld Ascendant and SS3 is a dead project that needs external funding, which, due to how clearly incompetent Otherside is, will probably never happen. Heck I believe Tencent is a sucker to buy this at all, but I guess having a famous IP sequel in your pocket is worth the price.
Instead of being developed in-house by Chinese companies this seems will be made by western lead developers so in the end of the day there are not much to kneejerk about. I don't think the game can get worse than what Otherside could be making anyway. Well the finished product will probably set in a Chinese Space Station painted with red tho