Yikes, I bought every Xbox console and plenty of day-1 releases, but skipped the last gen when it became clear that the platform isn’t about gamers anymore.
Triple-As are also getting tiresome, so I think plenty of people are happy to get a cheaper title on Steam that feels like better value.
I tend to agree about the lackluster AAA industry, but I don't think that's the gamers 'fault' for wanting indie games, more private equity and the share market environment forcing developers to generate slop as opposed to good titles. It's a sad way that the broader economy is going in that regard.