This probably works better for indies than DLC because I do think people have developed an aversion to DLC due to the big publishers abusing it for cosmetic updates. Personally, I'm very likely to pick up something like Factorio at full price, knowing that the devs are going to be adding "free" content to the base game over the years. But I'll skip over games with "season passes" and just wait for the complete edition to be released.
Destiny seems to have gone through a lot of different plans. The plan before Activision was seemingly to stop after 1 and make that the live service game, though the 1/2 break helped them hurdle a console generation gap so Activision might not have been wrong to push for 2 at least (but yeah was definitely trying to milk it with 3).
This is a significant step down from the old phsical media distribution model where any changes from the initial master were optional.
This allows the studio to make money on the game based on the continued DLC which needs less development investment.
It isn't so much "milking" but rather "acknowledging a change in the way games are monetized because the price of the initial game isn't changing."
That was Activision's plan. Bungie never wanted pop new destiny titles likes CoD. D2 also designed with content being constantly added in mind - main story is super short. It's easier to sell cosmetics to fund "big" dlcs with small seasons in between. At least, compared to convincing people to buy an entire $60(70?) new game and wait for all of your friends buy it as well.
Look at Destiny, there was originally planned for Destiny 3, but now the plan is just to make Destiny 2 the only game for the next 10 years with constant content updates. Even now, Destiny 2 of today is a significantly different than Destiny 2 at release.
Microsoft/343 have indicated that "Halo: Infinite" is planned to be this way as well, a living game.
Even indie games like Astroneer and Don't Starve are going down this route of updating a single game over a long period of time.
I'm not sure if that should be considering "milking", but it's definitely a change from how things used to be done.