I'm often left unconvinced by statements like this. Is it that the team size for a modern AAA title is required to be so large, or is it just that they are so large? The diminishing returning from making teams ever bigger makes me wonder if having such large teams are just a sign of low-level, dragging general incompetence somewhere in the chain of people running the whole thing.
I don't have any hard evidence either way, but every so often when I see a small, well-run team of competent people turn out something really good, I wonder.
But if your goal is hip cliche AAA game, yeah, you need the huge team. I don't know if its much of a diminishing marginal utility of devs/artists either, so much as a sprawling tree of parallel but unrelated pieces.
The newer tomb raiders are the epitome of this to me. Every five minutes you're on a death defying leap with crumbling architecture or whatever. As close to the video game ideal of "every frame a painting".
A handcrafted open world doesn't scale all that well, and Cyberpunk, from my impressions, seems to be both large and vertical, which makes the challenge even harder. Pretty much the only open-world I've enjoyed in recent years is BOTW, and that world is pretty empty, if only because the setting is literally an apocalypse where most people died. (In fact, for people arguing for interaction density, there is a collectible in the game that is revealed when it is 100% to be a pile of feces, specifically to make fun of 100%-ters.)
Of course in many ways AAAs have dug their own pit of despair with this, they throw so much investment into it that they need to make sure they appeal to as large an audience as possible and cram as much content as possible in, while also having an eye to DLC later down the line, the economics demand it. Hence why CP2077 had to desperately try to get it to work on last gen console, otherwise they'd be immediately removing a massive portion of the market.
As consumers we can get as much enjoyment out of some indie level gamer. I for one have play way more hours of The Binding of Isaac than any AAA title I've played and it would have been a fraction of the development costs.
* The team size required for a modern day AAA title is significantly higher than that of HL days.
* The games design choices are vastly different. HL was very on the rails, though hides it it really well by giving you the illusion of a large world, this a really great design trick and HL is rightly lauded for it. In contrast CP2077 aims to be closer to a true open world that tries to provide a linear storyline inside a large world with more open level design with many auxilary story lines and interactive world building.
* HL had a single platform focus (PC) for the initial development whereas CP2077 try to straddle two very different hardware generations and a multitude of platforms. If CP2077 had, in a hypothetical world, only focused on PC and maybe current gen consoles (PS5 and XBox S) it would not have nearly the same level of negative press.