While this is a true statement in a general sense, if including every video game ever published from the heydays of Newgrounds flash games to the modern Itch.io and the thousands upon thousands of mobile game clones, if you restrict it to video games with a retail/physical release then it's a decidedly false statement.
Im not including flash etc games, only proper video games. Currently I work for one of the largest 20 video game publishers and have worked for a few others over the last decade and a half.
Look at the number of games here
How many of these 3rd party games have you even heard of?
I do agree with flash/mobile its even worse but it certainly is not release game on console = profit, I dont know if the figure is 20% games make a profit, all I know from my experience is its less than half actually make money