I disagree. Yes, what you mentioned is happening to a lot of the bigger studios in the industry, but there had also been great games released in the past several years. Most of them made by smaller dev teams or new dev teams, but some are by seasoned dev teams as well.

Some great games that got released from 2023 till now that come to mind: Tears of the Kingdom, Baulder's Gate 3, Black Myth Wukong, Stellar Blade, Space Marine 2, Metaphor ReFantazio, Path of Exile 2 (this one is early access), Split Fiction, Monster Hunter Wilds, Kingdom Come Deliverance 2, and my personal favorite Expedition 33. I've also been enjoying indie games like Balatro and Schedule One. Just focus on the good stuff and ignore the bad games. I say there are plenty of good games to play, especially if you're a casual player and don't spend too much time playing.