Single data point: my young, working, well off gaming part of my family is just out of energy. It's easier to watch a YouTube video instead of TV or gaming, before then falling asleep to wake up for work. Seems like much of their circle is similar.
As for myself, I'm going through a, uh, icky phase of life and am not really motivated to play unless it's coop.
...Maybe others are struggling similarly?
Also, the games we do look at tend to be from indie to mid-size studios, with BG3 and KCD2 being the only recent exceptions.