The fact of the matter is that the people who talk about games make up a small portion of the total group of people who play games. AAA still exists because it still rakes in cash, year over year.
[0] https://www.businessinsider.com/best-selling-video-game-ever...
But clearly the AAA studios have the market figured out, it's just easier, less risky, and more profitable to make shallow "product" than a rewarding and interesting "game."
And the same complaints hold true in film, where people argue that studios are just taking the safer, more profitable path. But the people who make those complaints aren't the audience that the studios/publishers are targeting, and they are a minority in the larger market as a whole.
I mean, don't get me wrong, there are indie games or whatever that break out or break the mold; Stardew Valley has sold 15 million copies since it launched in early access in 2016, and though I think the CoD game from that year sold more, I guarantee you there are more people still playing SV than CoD: Infinite Warfare. But Activision made their buck and moved on, and that strategy continues to work for them.
I'm just saying that there is definitely an appetite among the general game consumer for a more complex and cerebral type of game! And that it's sad to see such few of those titles come from the big studios (while at the same time they nickel-and-dime everyone with their dlc's and other schemes).
God of War, a 4 years old PS4 title, was just released on PC and sold very well. That should tell you everything you need to know...
The Avengers was a large AAA game from the world's most popular media franchise and it recently tanked. "That should tell you everything you need to know..."
There are good AAA games and bad AAA games. The good ones do very well, the bad ones don't do as well. If we move the goalposts to say that the high-grossing/well-reviewed AAA games don't count then of course we're going to end up with a skewed picture of what the market looks like.