Personally I would not call Immortals of Aveum an AAA game. π
And I mean, that's maybe where the problems lie. This game is all jank and all generics, with no specific thing to present except "OMG LOOK AT OUR GRAPHICS!!!!". Which are also pretty unoptimized, so you end up with:
Only a tiny tiny fraction of players can even play it.
Then, the game is utterly generic. Despite how it might look to someone not knowing about it, DOOM 2016 and Eternal are quite unique games and have a very well-designed gameplay flow that even differs divisively between the two.
The writing is horrible and would make even an MCU movie/series writer question their decisions in life.
The magic is still just guns with replaced graphics. They didn't lean into the very premise of the game at all. And all they had to do is play Lichdom Battlemage from 2014 to get some ideas and that game already struggled with the concept. But at least it pulled it off.
Can't really say I'm surprised the game flopped hard. But unlike the dev I would call the underlying idea solid, just not anything about the execution.
No, this is the reality. The likes of Activision, EA, Ubisoft, and Take Two rule the industry by market cap, but that's because their games notably sell to the type of person who only buys a few video games per year at most. If they utterly dominated the material reality of the industry, how on earth could Baldur's Gate 3 or Palworld even happen? How could Hades or No Man's Sky, made by former EA devs, happen? Your view of reality is quite overly pessimistic. How can you even measure some of the claims you're making?