Basically, blame the rise of technology.
The stronger consoles became, the more cost came from making original game engines. PC tools are used and PC gaming projects which were previously niche before starts to gain traction with the larger console audience. Big publishers go nuts on their AAA titles and in order to save costs, they give in too annual updates that on PCs might have been just expansion packs but are now being released as sequels or if small enough DLC. PC tools plus the normal copy cat/imitation nature of the industry (long time fans known this has always been a factor) leads to games that look really similar to other games.
Eastern developers and publishers are releasing fewer games because the cost of just one console game has shot up through the sky and even the larger ones are at a lost on how to compete in the global market. Normally, they would be seen as bringing in different genres or takes on the more popular trends but many have taken to outsourcing to Western developers or just sticking to Japan or handhelds.
As bad as the industry seems however, it should be noted that digital releases and indie developers are making superb head ways in trying new things and filling the void left behind by previously more experimental developers. Sadly, when it comes to retail we are still seeing the media and industry trying to tell us the next big annual franchise is the greatest thing ever done based on graphics or the amount of money thrown behind its promotion.
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