It's absolutely not. Nintendo has a good head start and Sony's gaming division is the most successful part of their company. Microsoft is not investing in first or third party exclusives like they used to but their crossplay feature might increase their gaming revenue at the expense of their console sales. They're still selling though.
If OP's measure of how safe or how much "in trouble" video games are is new IP announced at E3 then consider this. Most new IPs are usually announced at the first honeymoon years of the generation even years before their release period. We're probably in the middle of this generation and some of those games are not even out yet Like Kingdom Hearts 3 and Death Stranding. We'll get new IPs announcements but not at the rate of last year or the year before.
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