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You young folks wouldn't know it, but the long decline of the E3 began way back in 2007 when the organizers decided to drastically reduce its scope for some reason and remove a lot of things that made E3 fun and interesting.

Then it started to shrink from a top-tier trade exposition filled with journalists and guests from all over the world to something that had to beg developers to partake. Make no mistake, this has nothing to do with the internet or whatever. Even now there are fairs and exhibitions in other industries that are much bigger than E3.