All this strife in the gaming industry makes me think that the issue is bigger than gaming itself. I honestly think people are tapped-out attention wise. Where video games might have occupied leisure/down time in the past, that reserve is now filled to the brim with constant short-form video and other social media content & feeds. Entertainment is pretty much at maximum capacity at this point and with that much competition, practically anything that isn't massively popular just falls into the void.