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I don't think a high caliber single player (or any high caliber type game) is dead but the reason why a lot of companies are striving for multiplayer is that it makes a lot of money and has more longevity. Overwatch is the perfect example. All they have to do is keep updating the game and they will make a lot of money and they don't have to take any risks. Whereas the new God of war took a HUGE risk and it paid off. However, if it were to flop it could've killed Santa Monica.