I think when all these famous studios were interesting, they still by inertia functioned the way people with actual skills founded them. I'm thinking of BioWare, Black Isle, Obsidian, but reading the history of any famous video game studio gives that impression. It was a rather personal business in 90s and early 00s, it seems.

Then the "professionals" came and started "fixing" everything, and something about today's computing makes me personally deeply disgusted of anything advertised there.

I don't want a shooter not better than a hundred Q3 clones, but taking 50GB disk space. I don't even want it with "photorealistic" (no they aren't) graphics. I don't want CK3 because it's slow and has too much bullshit happening, the secret of success is in quality of content more than amount, and more is not always better if a player gets bored with small events. I admit, I haven't tried Hogwarts Legacy, put from what people say its open world is as useful as Daggerfall's map the size of England, because most things on that map are all the same, though as a dungeon crawler Daggerfall is still better than typical modern game. And Star Wars - its Expanded Universe mostly came into existence in the 90s, it's designed the way very convenient for all kinds of video games, or any entertainment and any secondary art at all, and George Lucas approached that theoretically before making the first movie (the "obscenely huge profits" part he may or may not have considered, but it came as a welcome bonus, I suppose), and still every modern time Star Wars game is just not interesting to me ; my favorite one is KotORII, so there is, of course, a gap between me and the majority, but it's still baffling how didn't they even try to make an X-Wing remake.

One can go on. People want to play interesting games. Very few people play games because of "more, better, wider" in ad. The whole idea of a game is to be interesting. It's entertainment. It's not "I've got a new iPhone and you don't" dick size contest. Some game being very technically cool, but absolutely bullshit in gameplay, writing, UI design, character design, location design etc, - is not entertaining. Some other game being technically a visual novel (not necessarily), but with all those things done well, - it is entertaining.

So, making a good game doesn't even require a lot of very competent and very stressed CS heroes working since dawn till dusk to the extent of their ability.

I think the big "issue" is that there's a notable lag between loss of goodwill and loss of income/profit/value, and there's an even bigger lag between trying to fix goodwill and returns on that. It makes it too hard for any profit-first company to get right.

External MBAs taking over running businesses will either result in this or making a billion dollar company through the heavy exploitation of their workers and the consumers. I think the vast majority are the former though.