Most AAA games don't garner the majority of their revenue from microtransactions and loot boxes though. That's only the Activision and EA ones.
Activision, Take 2, EA and Ubisoft have all reported that they make more money from microtransactions than actually game sales and on a yearly basis they make most of the AAA games.
Not all of their games even have microtransactions though. Can't think of any in the likes of Civilization or XCOM for Take 2. Were there any in Mass Effect Andromeda for EA either? I expect in most of those cases it's a minority of games making the majority of that microtransaction revenue (COD/Overwatch for Activision, GTA for Take 2, FIFA for EA) so that could still mean the rest of their games make more money through sales.
I don't think they do make most of the AAA games either. Not when there's Square Enix, Capcom, Konami, Sony, Nintendo, Microsoft, Sega etc also putting out plenty of games.