Comment by flohofwoe
Exploding production cost is pretty much the only reason (eg we hit diminishing returns in overall game asset quality vs production cost at least a decade ago) plus on the tech side a brain drain from rendering tech to AI tech (or whatever the current best-paid mega-hype is). Also, working in gamedev simply isn't "sexy" anymore since it has been industrialized to essentially assembly line jobs.
It’s far from an assembly line job, but it’s unstable, challenging and the pay hasn’t kept up with the rest of the tech sector.