The Live Service Bubble is Finally Popping
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Almost all of the live service games I can think of that are successful do operate to some extent on "Sex sells" for their skins, though that definitely seems to be correlation and not causation. The First Descendant notably leaned very heavily into that and essentially died within a year.
Seems they are still alive with whales. They outlived a lot of western live services, but i agree theyll probably close in 2027.
Fanservice is a great bonus on top of good gameplay and gameplay loop/end game.