The Hollywoodization of the games industry has killed it in my opinion. Killed it in what sense? I would rather be a gamer in the current generation than in any previous one. Some of the stuff that was released during the 8-bit and 16-bit days was just awful.
Just as some of the stuff released now is awful. Some of the things released back then were classics, also, just as some of the things released now are classics. Just as in Hollywood, you can produce big budget crap, or great films on a low budget.