I feel that the structural components of these large gaming publishers are actively working against them creating an environment to discover any new thing, let alone a new game genre. For instance I just do not believe that these large companies have the logistical bandwidth/incentive to not chase a 100MM hit, and these larger publishers have clearly learned from the post-MMO, post-Kickstarter, F2P/DLC landscape. It was quite a few years ago when I heard the anecdote that all new proposals should have a DLC/loot box hook for projects, and it just makes so much sense. Valve and others trailblazed the concept that you could convince people to part with their money for a chance of getting something of perceived value. Everything they have been doing is to create ecosystems of engagement to create those long relationship/impulse opportunities. To me, this is optimizing for the fact that most consumers in the market seem to have less free money for the traditional model that they are used to, but are willing to leak out a few dollars here and there en masse. From the platform side the console churn/complexity that was there in the 90's is lessened, slowed, and standardized.
The organizations themselves feel like they can't handle 100 1MM projects compared to a single 100MM project just from leadership and management but that's not something I blame wholly on these companies, it's a structural thing in most public companies right now. From a simple analysis it is so much less risky for them to just acquire a new development firm with a sure thing/hit that can be shoved down their sales funnel. You gain the best parts of the corpse too: the employees, the IP, the proven product, and the future and recurring sales. Sure they'll lose the employees, but the rest of it will carry weight until the IP is forgotten. Even right now the IP for both EA/Activision is probably still worth a ton if they had to part it out.
In a more theory kind of sense I just feel like this is one of the problems with how public companies work right now. Once you are of a certain size and exist primarily in the B2C space, the mindset becomes optimize, reduce costs, and make GAAP profits. While I feel like historically this may have been a healthy transition from companies at (today's dollars) 50MM-150MM AR to take them to 500MM+ AR it doesn't translate as well when a 100MM revenue increase is the only way to even move the needle when the majority of the company's revenue steals the attention.