Also the pattern as I understand it is game companies work devs to death then let them go once the release is out. The advantage game companies have is people tend to like games therefore there are a lot more people who are interested or default to game development.
Yeah from what I can see, the games industry is going through what the broader tech industry is, just dialled up to eleven. People are being laid off left, right and centre (especially from larger companies), companies are shutting down after years in business and both pay and working conditions are signficiantly worse than they are in every other form of software engineering.
The baseline for that industry is... bad and the latest round(s) of layoffs in that industry has made it worse.