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Domicinator said:

Absolutely.  Ask Crytek.  They made a big budget follow up to FarCry (IMHO, Crysis was just FarCry with better graphics and a different plot) that was being hyped as the game that would open peoples' eyes to PC gaming again, and all that happened was that people pirated the hell out of it, and it wasn't even really released as a finished product.  I remember seeing endcaps at Best Buy with stacks and stacks of copies of Crysis--nobody really bought it.

It sold over 1.5 million copies in its first 6 months. I'd imagine it's well over 2 million by now, plus all the Steam sales.