Video games became the most lucrative [entertainment] industry on Earth is what happened...
...and rampant corporate consolidation commenced - just like every other industry. However, I am a staunch objector to the posited "decline of video games" and allusions to the 1983 crash, the indie scene is flourishing like the garden of eden. It's just that wherein before we saw creative freedom married to larger budgets that has become a relic of the past. So, we all want to see more games like Battlefield 3 and Chrono Trigger - naturally - but there might need to be a paradigm shift in where we expect to see those games from. after the Microsoft acquisition [or proposed acquisition] of basically every single consequential publisher games becoming more formulaic should be the expectation. Japanese studios are insulated somewhat so that is why you see Nintendo, From Software, etc holding their ground. The likes of Destroy All Humans 2: the remake is probably where you should set your eyes on moving forward aka the resurgence of the AA game sector is upon us - and most people are renouncing any hope for the return of the old AAA game scene
a light in the darkness