Honestly, I was thinking about going to see Far From Home again this weekend. I mean, they added scenes, it's Spider-Man, and I only saw it once in the theaters...but this has truly soured me to it. It's just bittersweet knowing that last scene is Spidey's farewell to the MCU. Just...thinking of it like that, it still stings.
Now, if they do a part 3 in the same universe without mentioning the rest of the MCU, then they could do a "Spider-Man is on his own. No back up, and no way out" type movie, where Peter is on the run with his outted secret ID...and then have him look for a way to try and un-ring that bell. Then, Sony gets off of their collective butts and works it out with Disney to fix the mess they made.
Honestly, the box office will determine the future of this franchise. I'd say it would severely impact the storytelling, but when has Sony ever let that get in the way of making movies?