When publishers were publishers and developers were developers (80s and 90s), it seemed like there was healthier competition. Even if there were a lot of abusive deals struck.
Now that we have giant, integrated publisher + development conglomerates, there's zero incentive to step out of that structure to publish a popular indie game.
It feels like news sites prohibiting links to external sites, and the world's the poorer.
Hollywood went from a vertically integrated system that handled production, distribution, and exhibition by a single entity to a system where production, distribution, and exhibition were done by separate entities.
It feels like game development went the reverse way.
[1]: https://en.wikipedia.org/wiki/United_States_v._Paramount_Pic....
[2]: https://mattstoller.substack.com/p/the-slow-death-of-hollywo...
It showed what kind of profits you could make off yearly refreshes of software, while minimizing development costs.
Why would an MBA take a chance on new IP when they have the above as an option?
But again: Sony, Nintendo, Microsoft, Nintendo have always been vertically integrated. This is not new.