we've also seen people who used to spend a considerable amount of money on games stop doing so, because the market doesn't cater to their preferences.

I have to wonder how significant this is. Anecdotally I agree with it, but I wonder how many people are like me. I used to buy at least a few new/full-price games a year, but now I might buy 1 if the stars align (last two were BG3 and Elden Ring, prior to that I can't even remember...maybe Deep Rock?). I have more expendable income than I've ever had these days and still love to play games as a pastime, but I'm buying fewer games. I 100% attribute that to the shitty practices the industry has picked up, because 9/10 that's what turns me off from buying a game until it's 5 bucks on Steam or free on Humble.