The king of hack and slash games has returned and its selling amazingly well! I am seeing positive effects of God of War on players who would have never touched a hack and slash game become a fan. There are people who considered hack and slash games as button mashers that have changed tone when they played God of War. This is the start of a new trend that could favour hack and slash games.
The hack and slash game we know is evolving to hack and slash RPG like Nier: Automata and GOW because people associate RPG with depth so that is what the developers are giving. I see Devil May Cry 5 doing the same. Its done wonders for the genre as some years ago there were 1 to 2 games made and they were all Platinum games with varying quality. The best on was exclusive to a failed console. Not anymore as it got ported to a console that sells and it is selling well.
Devil May Cry 5 will benefit from this. God of War released and people like the gameplay and they will not have AAA hack and slash game to play till Devil May Cry 5. Bayonetta 2 will benefit from this. Switch players who don't have PS4 will see God of War and Devil May Cry 5 and play something like that on their system. Nier: Automata will benefit from this. PS4 players will play games like God of War and it is the closest to it on the system.