The current industry has survived tons of buggy and terrible games, but what will be the high profile bomb that does an ET and destroys the reputation of the entire industry?
Starfield is insanely hyped, if that bombs, it could have big repercussions.
Other than that, we could have the industry stagnate down to just first-party publishers, considering how Activision has become yet another part of Microsoft.
Maybe it's not possible to have another video game crash, maybe the industry is too established for that to happen again. It's an interesting discussion.
It is true that is most of what you need. However in my experience (which isn't games but software development for some pretty expensive and complex equipment) successful projects often have a handful of talented people who give a damn well beyond a simple desire to earn a paycheck..
Big companies do a pretty good job crushing those guys as it is, yet somehow they keep springing up like weeds. If they ever actually succeed in killing the goose that lays the golden eggs...then you just have software like they have in India. How many cool games do you see come out of India?