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It's cancer.
It boils down to something like, for every additional developer on a project there's another full salary you need to pay but an exponential downward trend with each additional employee in how much productivity they'll add to a project. Eventually you've got hundreds or thousands of employees and more time's being spent trying to coordinate work than actually producing content. The productivity sweet spot tends to be somewhere between 4 and 20 employees but to produce a modern "AAA" game in under a decade you need like 200-1000 employees, each of whom is barely contributing anything. Tools also haven't kept up with the demands we place on them.
Then there's the problem I got warned for mentioning. Watch this video from a retired game dev and read between the lines: https://www.youtube.com/watch?v=LMVQ30c7TcA
Games don't need to cost as much as they do, dev teams don't need to be as big as they are, and Steam of all things isn't at fault for this problem. In the big Insomniac leak there's evidence they were desperately trying to pitch to Sony, "we could make 3 really good games in less time for the price of one cinematic game".
The whole industry has gone pants-on-head chasing short-term profits. They'd rather make 9 flops like Kill The Justice League if it means a chance they might also produce 1 huge earner. CEOs are walking into a casino and saying "put it all on black" knowing if they crash the company they'll still get a golden parachute. Don Mattrick basically killed the Xbox brand and then immediately got hired at Zynga. Phil Harrison blew 70 billion buying a bunch of studios and almost immediately began firing hundreds of people and closing entire studios.
The ship is headed into an iceberg and the captain's saying, "but what if there's gold inside?!"
There was a time when we even have yearly games, but now games take like 4-6 years to make, expansion 2-3 years despite dev size growing from 20 to 200 or even 500 devs.
It's just crazy. It's bloated and slow.
Great comparison. We see it all the time in games like Stellaris etc, but here it feels like they've created all the content already and they're just holding it back for cash. Compare it to the incredible passion projects like Gate of Hell, and you see how soulless these companies really are.
If it’s not that, even the big names of the past; Microprose are asking for Early Access with B-17: The Mighty Eighth, like, WOW! They don’t want to plow money into anything without - effectively- the gamer buying into season passes/EA *before* anything is even made. They *made* B-17 and Wayward made ‘The Mighty Eighth’, but now Microprose buy it and Reduxe it. It’s not even a NEW game, just better visuals (maybe) yet they want you to pay for it and it ‘may or may not be completed/finished’…as per the EA spiel..
Btw, here’s the House of Steam making more money per employee than Microsoft,Apple and Facebook[www.gamesradar.com] heavily redacted of course…