I think it's mostly a terrible theory.
Companies like Activision and EA make too much money churning out these so called ' AAA ' titles (which I use the term with a taste of vomit in my mouth ) every year.
When the games industry starts putting out more games on the quality level of Chrono Trigger, Final Fantasy Vi, Silent Hill 2, Secret of Mana, Dark Souls, Starcraft Broodwar, Deus Ex.... that is when I will start to care about games again. This generation has been 99% trash, a swamp of s**tty brown FPS graphics with the occasional floating island of decent games.
There has not been anything that comes close to those titles I mentioned since the start of the PS3 / 360 gen. I dare anyone to contend me on it
there where glimmers of hope. Bioshock, Fallout 3, Dishonoured come to mind but even they where littered with modern gaming design problems and plagued by badly masked linearity and baby's bed time storytelling.