I contend that modern AAA developers were given far too much creative freedom and simply stopped caring about their core fanbase—an audience they frequently seem to loathe. Personally, I checked out on their games ten years ago.
Electronic Arts used to be a great company, but most younger gamers have absolutely no clue why EA was originally formed. It was founded in the 1980s by a collective of game makers who were deeply dissatisfied with the corporate constraints of development. They wanted to build a company that would publish games made by gamers, for gamers. Tragically, EA eventually morphed into a much worse version of the exact corporate entity they hated.
A perfect example of this tragedy is BioWare. I deeply loved that studio. Games like Baldur's Gate, Knights of the Old Republic, and the early Dragon Age titles were some of the best games ever made. It is extremely sad to see what happened to BioWare, largely because EA completely failed to protect the core values and creative identity of this legendary developer.
Instead, they began hiring highly unqualified people just to fill arbitrary corporate quotas. Many of these new hires did not care about the source material, or even gaming in general. Studios became filled with people who viewed themselves as activists rather than game developers. I am sure there were still incredibly talented individuals there who genuinely cared about these franchises, and I am certain they could see the company was heading down a dangerous path.
Every single time a franchise tries to forcefully change who its core audience is, it always fails. Instead of taking responsibility for these missteps, corporate leadership often blames the fanbase, which only pushes loyal players further away.
It is no wonder that developers outside of North America are finding so much success right now. They actually know their audience and produce the games their players want to play. It really isn't rocket science. I have been gaming since the 1970s, and the corporate slop currently coming out of North America is the worst it has ever been. Thankfully, independent games are the exception to this trend.
At the end of the day, developers can make whatever game they want. But when you fundamentally alienate your core audience, you will always lose. I only hope this can serve as a lesson for other studios and publishers, but sadly I believe this will fall on deaf ears.