You're living through the final stages of this era of videogames.
AAA titles have become too resource intensive, and too risky to produce. Large studios are a single non-hit away from being shuttered.
Most AAA's will pivot to smaller teams and reduce the scope of their games. EA's split fiction will be a model for this sort of thing.
In 5-10 years pic-related will have eclipsed all but the most niche types of games.
Traditional game development will be on a scale similar to people who create new games retro hardware.
As bad as you think it is now, you'll remember this time fondly in 10 years.