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Volition (Saints Row developer) shuts down
(arstechnica.com)
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I think this is the crux of the issue. There's been a trend for AAA to push for bigger and more ambitious games, which leads to long, expensive development cycles. But pretty much everyone who is passionate about gaming can point to a game that stuck with them not because it was huge and ambitious, but because it did one thing really well. Games don't have to be huge to be amazing.