It's some of all of them, but it's mostly #1. There's a big indie gaming glut. Every week Steam gets more new games than I can watch the trailers for, much less buy and play. And those are the games that manage to make it through Steam's (admittedly far less selective than it once was) admissions process. Like squeaky-clean says, check out Greenlight some time. Even if all of the games on Greenlight were good (they're not), who the heck has time for all of them?