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The problem with Epic is that it seems they don't actually care about the quality of games, just fostering a development environment which necessitates the licensing of their engine. The closer to the bleeding edge it is, the more necessary their engine becomes as developers are less likely to have the skills and expertise to directly make the most of the new hardware.

Epic wants MS and Sony to create a demand for their engine in the next gen which means either extremely expensive or highly subsidised hardware. This is a recipe for more expensive games and game developers even less willing to take risks with games. Good for Epic, not necessarily good for gamers.