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Yeah... Single player games are doing just fine.

Also, there's such a thing as market saturation; there'd be far more bombs if everyone was focused on multiplayer games.

Oh, and one thing you failed to consider is that the average age of gamers is rising, not dropping, and the 18+ crowd is very much larger than the young'ns. What we're seeing is that, while there is some fall off, a great many people simply don't stop playing games as they age.