Well diversity has received a ton more spotlight and discussion for past 10 years with many developers and games being “canceled” for their views, opinions and many games have been heavily criticized for not being diverse enough or containing elements that are offensive for group a, b or c.
Now the pendulum is swinging back with those canceled or holding more conservative or religious opinions banding together to crusade against whatever they consider woke.
Result is a minefield where your game can be attacked if its not woke enough or too woke resulting in bunch of bad press.
While some gamers are getting older the number of players does keep increasing with newer generations like alpha picking up controllers. Many millenials and older zoomers may have more disposable income but also much less time to play, backlogs of hundreds if not thousands of games and bunch of good old games they just keep coming back to.
However gaming doesnt exist in a bubble. Social media platforms, streaming services are also competing for our attention. The whole entertainment market is so saturated that only ways to increase profits is to enshittify or win marketshare from competition.