Production costs have gone up too far. Double A studios don't really exist anymore, so there isn't anyone to provide commercial projects while still needing innovative ideas in order to get noticed.

The big studios develop projects that take so much money and time that they can't afford to risk anything. Everything is a sequel, spin-off or adaptation, and even the few new IPs that pop up from time to time assimilate the ideas that are trendy at the moment (*cough* parry *cough*)

The indie scene does provide something to be hopeful for from time to time, however, the problems start with "indie" as a label. Since its inception "indie" is a sure-fire way to get thrown into the kid's table. Their treated condescendingly to the point that any bone thrown at them by a big developer is seen as a favor from heaven, so they have slim chances to go really mainstream right off the bat. For instance, recent breakout successes like Animal Well don't reach beyond the bubble of the most dedicated fans.

Another big issue with indies is that no studio is actually building a proper repertoire. Shovel Knight, Celeste, Hollow Knight, Cuphead, Stardew Valley, all took out the world by storm, yet, at most their studios have dedicated the past 5 to 10 years to develop DLC. I was about to write that Lucas Pope was the shining example to be followed, but Return of the Obra Dinn came out 7 years ago.

For the gaming industry to get a breath of freash air there needs to exist the chance of upwards mobility for indie studios. But what would even be the point if their ultimate fate would be to become the n-th studio acquired by some company already owned by some other company? There needs to be radical, structural changes, starting with our acts and discourse as consumers