I could write a book on this subject.
I think it boils down to a few simple things.
We are getting older, as a demographic. I don't enjoy the same types of movies I did 20 years ago. Same goes for games. Yet the industry often fails to understand that, still cranking out games aimed at a teen male audience.
Franchising. In many cases I would rather play a new game then number 4, 5, 6 or 7 in franchise. Most sequels just don't innovate or mix up the formula enough to feel fresh.
Monitization. I often feel like a walking wallet over anything else. I feel almost dirty, being a gamer. Preorder bonuses. Timed exclusives. Season passes. Online passes. DLC locked out on Disc. 60usd game sporting day one DLC. Pay2win. Timesaver DLC. Exp booster DLC. My hobby has become mainstream big biz.
Too much inside industry info. Gaming loses it magic when you know so much about how it works. And I am talking about the games themselves to the way the companies do biz. If you didn't know about MSs X1 policy and just bought the system, you would prolly enjoy it. But most of us know, and most of us get pissed. It leaves a sour taste, and personaly, I haven't even wanted to buy stuff on xb360. In the 1980s, I didn't know Nintendo strong armed stores like Toys R Us to keep NECs TG16 and Segas Master System off of the shelves. And I didn't care. I just bought the NES and enjoyed it. Ignorance is bliss. Today we are always reading a quote from some jackass running his mouth from this or that company. #justdealwithit for example.
Just like reask, I have gotten older to the point that I have often wondered if I am done gaming. I am not. But what I play has changed no doubt. I own Blops2, BF3, L4d/L4D2 but I play those games much less then I used to. I play games that are much less twitch focused, I am not 14, 24, 34, or 44. I tend to like games that feature bots like Blops2 because I can scale them to my skill level. I play a lot of sports games. Because I love Football, and because the games aren't going to frustrate me to the point of wanting to throw my controller. I also play a lot of RPGs(no Dark Souls for me ty), but stuff like Rift, DiabloIII, Tourchlight II lots of the traditional PC type stuff. And I play Civ. I love strategy games, but the RTS stuff normaly plays too fast for me. Turn based is the way to go, and Civ is my fav. I also play a lot of smart indie stuff.
And when I really give thought to what I spend time playing and enjoy playing, I realize that I am no longer the target audience for trip A console games. It doesn't mean I have to stop playing. But it does mean that what is worth me spending money on has changed.
Also, as is often the case, as we get older we become more cynical. Sometime I have those days where everything new looks and feels like shit.