There's still plenty of interest in glam metal. Steel Panther are doing well, and back in 2014/2015 when Mötley Crüe did their "final tour" they were one of the best selling acts during that period.
It might be better to say that "his sense of what niche to target, and how to target that niche, wasn't as well developed as it should be". In the same sense that you can make money selling glam-metal today, he probably can make money with a pixel-art dungeon crawler, if he can figure out how to target the specific group of people who are into that sort of thing.
Write a cautionary tale and get recognition even in auxiliary communities.
"Please note that I did all the marketing I could afford to do on my own and with a halved budget. I emailed 187 reviewers and news website. I tweeted out like mad and got about 50 retweets and >10K impressions on the launch tweet. Before release I even had a mention about the game on Rock Paper Shotgun's german website."
Glam metal isn't really a good analogy. I'd say it's more like building cathedrals. The market isn't what it used to be. They're still admirable and today's tools are better for them. But they're monumental work, even for the experienced, and you'd be insane to tackle that with 4 months of savings.
I want to make a game eventually, and I'm a risk taker, but even I would save up at least 3 years before I go indie.
Cathedrals were AAA titles, took generations and the funds of a pope.
Pixel art indies are like Norwegian Stav Kirke, a cathedral made of wood. It’s concevable you could build one yourself.
Not every indie is a stave kirke, some are straw huts. Just as not every AAA is a cathedral, some are just 3 walls and a price list for future construction.
Maybe your example represents the game kit or game builder games.
I bought at least 3 of them. My steam recommendations are full of them and many have big, happy communities. I think "aren't cool" is a bit of an overstatement. They're not AAA level cool, but few things are.
PS: This is not a pixel art game.
The games market is so saturated with actual good, polished content, everybody knows this, making an indie game you need to really stand out from the crowd from the view of game mechanics in a spectacular way, or you need really good graphics and sound, and still you are not guaranteed even to make your own investment back.
Been working at a big mobile game company myself and seeing this shit first hand, you make like 50 games and maybe 1 or 2 were like good or really good, not even great. It's a brutal business, and oversaturated like heck, how are you going to stand out with this kind of game ?
But do I want to play it in competition with so many other things I could play? Not really. Sorry :( I'm sure it's very well done and I might enjoy it, but there is no reason to move it to the top of my large to-do list...
That also means you're now 20 years older, and perhaps not in the target demographics for games in general.