No that was the 90s. Too much greed, monopolies. bad DLC, MTX creatively bankrupt publishers. I hate this idea ownership is going out of favor. Give me the 90s when we had a rapidly growing but healthy industry that was not risk-averse and full of innovation, new IPs, and arcades.
While I agree that parts of the industry take a bad turn, I say it is only a part. The easy access to tools of development and also means of distributing your games allow a flourishing indie space. And this massive growth in indies makes up for the shortcomings and bad developments in the AAA space. So I would argue we have a net positive.