I mean from an overall software sales perspective, there will certainly be calmer years than others depending on the slate of releases.
Currently, 5 or so games have beaten the expectations put upon them while many others failed drastically or other were whelmed at least.
Definitely feels like a lul year in between the bigger years. It's felt by the consumer mass too I'd say, but a few releases for this upcoming holidays will surprise us nonetheless.
Also there's the discussion about certain games and their critics, lack of marketing or simply put lack of general interest. Games are not privy from these impacting factors.
Concord was met with general apathy, Star Wars Outlaws is suffering from the same fate Avatar Pandora's Frontier had from samey open-world not so much than just decent games at best.and Hellblade 2 was exclusive to an ecosystem that wasn't even receptive to its first game in the first place.
So much to be said, but anyway, saturation will inevitably be a more important factor as time goes on, but those examples ain't totally it.
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