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The selling point of AAA has always been top production values, but that is mostly not yielding proper investment returns in people's eyes anymore..
If you compare a 2025 game running on a current RTX 50xx to a 2015 game running on a GTX 680, the difference is somewhere between disappontingly small and nonexistent.
High end games are failing because they don't deliver, and all the interest goes to midrange stuff that wasn't chasing production values to begin with.