it goes without saying that i think the answer depends on who you're asking and what you're after.
for my part- my gaming PC aged out of competency many years ago- and truthfully i had considered a full rebuild (case, components, display) mid pandemic. however GPU price fluctuations, a premium on physical space in my NYC-sized apartment, a diminishing interest in tuning/performance and a general distaste for the direction Windows is heading has ostensibly snuffed out my interest in jumping back into PC gaming. i'll be back at some point- but i'm good for the moment. maybe it'll be a steam deck 2 next go around?
which means i'm limited to my $500 entry into contemporary games with a PS5- and i dunno, i feel like i'm getting great value out of the box. granted Sony games (single player, narrative driven) are my kind of games- but i still have a lot of PS4-era catching up to do, and for the additional $100ish i pay a year for the PS+ Extra catalogue; i'm feeling pretty good about my investment.
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now, how do controlling businesses feel about the state of things? on the one hand- line must go up, some is never enough, growth over profits, etc. so i'm sure it's curtains for all of us.
but setting business interestes aside- i think enthusiast communities tend to prognosticate superlatively, so i try to remember that platform-holders will figure it out (or they won't)- but so long as i feel like i'm getting the value for what i have in hand- then it's happy days!
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