The "no longer works" comment clearly refers to the business model, ie. ignoring the quality or popularity of the product itself and just looking at the balance sheet. The gambling (microtransaction) model is enormously more profitable than the classical "just sell a game" model.
Elden Ring was spectacularly well received and has sold millions of units, but it's "only" a game. There's no casino in the back, and therefore no gambling-related revenue stream.