Nem on 04 March 2014
You werent paying atention.
They kept existing, but they followed the trends of the japanese market and not the western one.
After the 360 failed to sell with those exclusive JRPG's, the market imploded and developers went on to make games for the more popular system the PSP. After a few years the PS3 has made a comeback and made it possible to finance JRPG's on consoles again.
I predict we will indeed see more of them if the current trend of PS4 domination continues. They will be just as viable as they were during the PS2 era.
