I'm honestly not too worried for the gaming industry.
The only thing at risk, really, are those huge AAA money pits. And for the most part, I'm fine with that.
The nice thing about gaming is that it's an industry where if you have some passion, and a good idea, and a good work ethic, and a bit of good luck - you can make something, and it could go big. I could rattle off a dozen small indie hits right now, and while not all of them are to my taste - a surprising number are. My number 1 favorite title (Factorio) is from a no-name outfit out of Eastern Europe that started out with 3 guys, and I think they might be up to ... 7 guys now?
There are tools out there to make games, heck, you don't even need to know how to code anymore. A bit of vibe coding and some shopping on an asset storefront and you could put together something playable in short order. Now, whether that's a good game or not depends entirely upon ~your~ vision and your ability to implement it.
Now, I do realize, for every small indie hit, there are hundreds of flops - but that's only in a commercial sense. Those folks making those products are writing, and in many cases releasing final products (there the endless "early release" and perpetual Kickstarter stuff, I'm excluding that here). And that is meaningful in it's own way, even if I completely discount the commercial side. It may not put bread on the table, but it's another good line item in a resume, and the more experience you have, the better starting point and further reach you have for the next project.
You don't need a multi-million dollar budget to make a good game. But Grimlakin has a great point about studios that make big titles - the next one always needs to be bigger. And I just am not convinced that it really does. So yeah, the big studios may be in a large amount of trouble, but that's entirely self-inflicted, and probably good for the industry if it does go away.
