Well, this economic downturn might have something to do with the games industry continuing to push out products that nobody wanted (or were no good in the first place) at absolutely lavish budgets. It didn't seemingly come out of nowhere.
Cue Concorde.
If you spend half a billion, to make a game that's five multiplayer maps, fail to do any market research, to find out that the part of your audience that isn't indifferent to your game actively hates it, playing the role of innocent victim subject to the whims of evil studio execs, is somewhat unproductive.