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Just a note, Gears is not an FPS.

 

Now I dunno what will happen but I believe FPS games will still sell. For me personally as well I mean I really don't care if a game has an annual release such as CoD or releasing AC Brotherhood a year after AC II as long as I find it fun and great to play. I will pay for it.

So even if the FPS genre crashes, I will still buy the FPS games that appeal to me. So for example if the FPS genre is in a crisis status and a new Killzone is coming out, I would buy it.