Gaming reaches its peak years every five years or so.

[JackHandy]

Well, it depends. Are we talking commercially? Critically? Because if it's critically, it's hard to argue that the industry didn't peak with the PS2 gen. Back in those days, the NES-through-PS2 days, we got downright masterpieces, multiple times a year. Games that changed the way we thought of games. And they were complete, all on cart/disc, and with no DLC, patches to speak of, and fully-tested... it was insane.

So if that is what we're going by, I will have to disagree entirely. The peak of the industry is long behind us. What we're seeing now is barely a shell of its former self.