Ultimately, they really haven't made many good games and that's what happens I guess.
But I hope they're being overdramatic
Homefront Revolution certainly looks interesting and I'm also looking forward to seeing what Vigil (now Crytek USA) are up to, I know they've announced something, but I don't think there were many useful details
My real concern is Star Citizen. That game is based on the CryEngine, so I have no idea what would happen if Crytek went under