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That's subjective... Might be your experience, but there are many "Good" games that people do not like, and many "Bad" ones that they do. That doesn't mean that what you say isn't correct for you, but it's not going to be correct for everyone else...
I've played some games that were considered "commercial failures"; Penny Racers on the PS2, CS Locomotion on the PC, as 2 examples of games i very much like and in respect to Penny Racers, it was one of my favourite PS2 games of all time.. Yet it was considered terrible.
Did anyone think they were? Every game they've released has always been behind. Oblivion, for 2006 was pretty dated graphically. You had NFS:Carbon at this point and other graphically better games, but the reason Oblivion and Bethesda games are loved is because they're one of the last few developers who produce proper open world sandboxes you can literally do anything in, and make the game filled with content enough in vanilla that it holds people for hundreds of hours...
That people are lining up, waiting for the CK for Starfield shows they didn't fail on that point. They may not have lived up to everyone's expectations but may i remind you that Fallout 4 was considered "Mixed" on launch as well?
Bethesda has sensed fresh money from continuous content in multiplayer as they are doing with TES online and that little with F76 and taken for a ride for single players with Procgen and poor content, staff reduced to a minimum and large capital collected at launch. I don't like this anymore.
They will become the new Disney.
As you say, they'll be just another legendary old school developer that destroyed themselves.
People keep saying this, and I totally understand why honestly. Bethesda's games are anachronistic and oddly particular to them and a strange hodgepodge of proprietary and middleware and in-house and the results are not always to everyone's liking, and are indeed beginning to move outside of contemporary standards somewhat.
But the thing is, those are the things that made them "the legendary old school developer" they were/are known for being, and changing their development environment likely isn't as straightforward as some assume.
Bethesda isn't an Id, Epic, or Guerilla. They are not industry leading proprietary in house rendering engine developers. They've always instead been, like many other dev studios, systems and tools developers, with a very particular design philosophy that set them apart.
As maligned as the Creation Engine and the remnants upon which it's built is, it was cobbled together from the pieces it was precisely because it was built to task for the kind of games they made - the games that made them that "legendary old school developer." It's what made them "them." So is Todd et al's idiosyncratic focus on hyper granular clutter objects and scale over all else. That's what makes them "them."
"Making a new engine" is not as simple as people wish to assume, and licensing one instead means doing things very differently potentially and losing a lot of the distinctive things about their games that people (used to) love.
So, people are essentially saying, "Change everything that made Bethesda Bethesda (engine, design philosophy, lead producers, etc.) while still making what we loved about Bethesda, but better. Oh and we still want the modding tool suite we've always had, too."
All I can say is, respectfully, good luck with that. You may all get your wish, but if you do, I also wouldn't then be surprised if the resulting games resemble the "legendary old school" Bethesda's games about as much as latter day BioWare games have resembled their classic and beloved CRPGs, after their founders sold the company and started embracing a more action-oriented design approach.
This has always been, and remains, a monkey's paw situation in my mind. Be careful what you wish for. We will probably end up getting it. And that may well destroy this "legendary old school developer" more than anything else in the long run.
They're not using a new engine, just the same old Creation Engine.
RIP
Yes, that is what people are saying, myself included. You can't continue the same philosophy for the same 30 years and not to expect to be left behind. Things change, tech advances, products improve. It requires better tools today to build and fix a car than it did ~100 years ago when they were introduced. Similarly, it should require the same advanced tools now to build and patch a game - and yet Bethesda's relying on their old garage, their old tools to keep going.
The only constant in the world is change.
Bethesda needs to wake up and discover that they need to change to survive. They need a new garage, new factory, new tools. The old jalopy doesn't work anymore.
"See that loading screen over there? You can load into it! It just loads."
Do you have a source for those numbers?
He's had to step out for a moment, and probably won't be able to respond till tomorrow at the earliest.
I know they spent about 500-600 million combined on SF (production & advertising). So they need to make a lot of "hundreds of millions" to even break even.
Bear in mind, Game Pass users didn't pay, and Steam has something like a 20% royalty cut slice to subtract from the revenue, not sure what the tax man gets either.
And lets not forget how many $/£100 refunds they did in that 60 hour refund window.
So was the figure they said for revenue pre refunds? they won't tell us.
If they even broke even on this, I'd be surprised.