It might be hard to see it now, but we're in a golden age of videogames. You've got an absolute flood of new games coming out, much much cheaper than ever before, on a much much more innovative and useful sales platform than going to a shop/ordering the game online. I mean Steam, of course.
The problems today are just different from before, not worse imo. The outstanding games of 5/10 years ago are still being remade because they make money, and now they're all learning just how effective micro transactions are, even if it isolates your main audience.
Another problem is the quality of what's being released, and the common "alpha/beta/pre-release" releases that are often just a ploy for developers to steal player's money, then never go past alpha with the game. People are cozying on to this, as well as paying for pre releases, so along with Steam instituting more rigorous quality control, I still maintain this is a net positive.
The most interesting thing to me, is seeing how as the average player becomes better at games, the market will react. You look at games like FIFA or Pro Evo and how they incrementally got more difficult as the skill level of their average player got better, and in a few years, you've got a different game. Seeing that across all sorts of games is definitely exciting, and in many respects it's been there for a while. That's why, in my opinion, CS:GO is more popular than COD, because COD is generally an easier game, being less tactical, etc.
That's not even mentioning virtual reality... Whether you like it or not, that'll have a huge market when it takes off
tldr. videogame industry has lots of problems, but they're generally problems from their new-found success. Videogames have more quality, more variance and a better means of distribution than ever before.