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Being purchased by a large company doesn't mean the developer's games won't be trash.
Apart from that, the "indie" era is long gone, because just like big studios, they are under pressure and are subject to various dependencies. Monetization, development speed and quick short-term profit at any costs at the expense of quality and content. Not forgetting the current "AI" and the forced "optional online" trend by many products.
If we look further into why, we quickly end up with those who give developers the tools and ressources. For my opinion, the market destroys itself because the loss of many things is simply too high.
That's why I have always avoided using the term entirely, and just split the the market into "AAA" and "not-AAA" games, and don't generally bother at all since it's all just "games".
I'm not entirely sure about the "AAA" definition either, but I seem to have an idea what people mean when they use the term, so it's fine.
Doing that also takes away the distinction from the publisher and puts it back to the games. While there "the usual AAA publishers" that are also the only ones doing "AAA" games, you can still get a non-AAA game from these publishers by doing that.
Last but not least, I care nothing about business contracts behind the games. To me, "Indie" has always felt like a business-relation, or lack thereof because one company is doing both the development and publishing roles -- yet, there are plenty of games that are labelled "Indie" by the anonymous internet crowd, while the Steam store page still has distinctly different names on the "Developer" and "Publisher" items.
Bizarre anti-AI rant aside. Indie just means independent from a publisher.
The topic is clearly about what the term means to consumers, many of which have appreciated the passion and ethical business practices they feel are lacking in the big publishers like EA and Activision. Now that anyone 'independent from a publisher' can try and shovel out content from an llm, we have to re-examine that positive image.
Indie game/indie game dev term has and never has had anything to do with ethics or passion. It means solely that game was made by an independent game developer without funding or control from publishers or any other outside entity.
Once again, OP was clearly talking about what people think of indie in the sense of a brand and the value they place on it. If I say "Sports journalism means a lot less to fans since all those writers were caught taking bribes", I'm neither disputing nor discussing that 'sports journalism' is a profession where people write about athletic events.
No, it doesn't. Different people have different views. simple. People can't even agree on which companies actually are indie or not.