Dunno, I can't just imagine how a crash doesn't eventually happen. Companies acquiring all these IP and content create a reality where they actually don't need to rely on certain other IP they own nearly as much, so that IP can just...go to the vault. So already you are ending up with less games. And realistically, a single entity owning all these IP that were once in the hands of distinct independent 3P publishers, means there will be less funding to go around. So again that's less games.
And as you said, pricing and quality issues with what content does come out can also become a big issue, because if there are less competitors around to provide content, there are less market incentives in terms of actual competition to ensure the quality is at its peak and the prices at their fairest because...who else are consumers going to actually turn to for alternatives?
I think there's going to be an implosion in this industry by 2033 if the mass consolidation really jets off from here. Keep in mind, other Big Tech companies have been watching this, too. Now they have a green light to buy big publishers of their own and offer similar behavioral concessions as Microsoft (if even that), and expect approval, else they'll sue (and win). This is going to kick off the domino chain.
Sure OK. Excuse me while I'm not wetting myself and shaking my pom-poms for a $2 trillion conglomerate getting their way and consolidating a massive $69 billion 3P games publisher into their fold.