Kids grew up, but there's new ones showing up every single day!

Back in the day video games were for kids and "first movers" who account for a tiny percent of the population(some marketing jargon). Not only are they usually rich enough to buy something new, but they have adaptive traits that make them try new things without hesitating, or waiting to see how most people act/react.

Statistically when something new comes out, it doesn't resonate or sell well to the general public until a certain number of people have it. That's why companies like Tesla are packaging and selling hype like never before. They're shortening the time frame from First movers ---> 60% or more households owning it. (this example Tesla wouldn't necessarily be "it" but if a majority of the population is driving electric, Tesla will be doing very well. The exclusivity and availability have made it something people camp out and wait in line for, which means faster returns.)

Anyhow, back in the day it was kids and these first movers. Now you have 3 or four more demographics beings served by the industry, not just kids, teens, and kooky rich dudes. There's games just for adults, just for small kids, just for little girls, shit, when WiiFit came out they even got that 18-35 female demo, which is like the toughest market for vidya.