I’d argue that the indie and AA studios are making games today that are as good as or better than the pre-enshitification AAA games of the 90s and 00s. Maybe not quite as high in production value for cinematics, but on par or better for game content and play.
Like I’ve been largely ignoring AAA options and still have a huge backlog of games and generally have fun with new ones I try out, including finding new gems to add to my favourites.
So I guess if you have a base assumption that great games need to be AAA to even be contenders, the gaming situation looks worse than it did in the past, but IMO that assumption is flawed.