Is the biggest proposed merger in video game history dead? That’s what I’ve been contemplating ever since the Federal Trade Commission filed an administrative complaint on Dec. 8 contending that Microsoft’s $68.7 billion acquisition of Activision Blizzard would substantially lessen competition. Sure, headline writers made the fate of this merger seem like something less than a fait accompli, and that the government was merely “suing to block” the deal. But I wonder if giving Microsoft any shot here undersells what has just happened. Especially in light of what’s known about the F.T.C. adjudicative hellscape, the details of this particular merger agreement, and finally, how badly Lina Khan wants a win.