> First off let me get on my high horse and say the engineering in video gaming is generally more complex than the engineering I've done working in big tech.
Yes. Having done everything from mainframe OS internals to proof of correctness to autonomous vehicles, video games are the most difficult.
At the beginning, game dev looks easy, because the tools are good and modern hardware is very capable. But as you approach a big, highly detailed, photorealistic world, the easy approaches hit a performance wall. Then the necessary optimizations become insanely complex.
That's the tyranny of the frame rate. That's why I've complained about game engines in Rust.
Everybody writes My First Game Engine, then hits the wall about two years in.
The metaverse problem is even worse. All the problems of game dev, plus the problems of user-created content and large scale. With all the effort and money put into metaverses, none emerged that worked as well and looked as good as an AAA game title from the GTA V era. Roblox, Improbable, and Second Life are as good as it got. You'd think there would be some good examples still around, with small user bases, but there are not. There are a whole range of problems only metaverses have, and some of them are unsolved. For commercial games, much of the work takes place during level building and optimization. Unreal Engine Editor does much of the heavy lifting. Metaverses don't have that option.
The total failure of the metaverse industry comes partly from this. It's hard to do, and the problem was underestimated. Mostly by the people who really just wanted to sell their crap NFTs and coins.
The people and wage problem comes from too many people wanting to make games. It's like Hollywood. If you've spend any time around there, you've met the actress/model/waitress types. The male version has stand up comedy levels of ego.
That pushes wages down.