No, E.T. just gets blamed for the Video game fall which was caused by idiotic companies who didn't stop producing constantly and mismanaging their money.
Everyone just blames E.T. because it was the "latest" in popular video games coming out at the time but the fact remains had E.T. even been successful than the fall would have still happened.
E.T. never claimed to be the best game ever. Chrono Cross's designers SPECIFICALLY said it would be the best game ever and I found it laughable with such a poor quality story with one-dimensional characters and plot riddled with so many holes and inconsistencies even in its most basic of storyline settings that I find the entire ascertian laughable.
For those who don't know:
The worst game ever, Chrono Cross, is still being sold because it never sold that many copies.
http://store.na.square-enix.com/store/sqenixus/en_US/pd/productID.123845700
I've explained in detail why this game is the worst game ever created. Try actually reading the material on the front page instead of posting your opinion like you're always right about everything, at least when I do it, I have the facts.
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