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Xbox boss says current-gen console prices ‘won’t come down’ like they used to | VGC
(www.videogameschronicle.com)
this post was submitted on 24 Aug 2023
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In addition to that we've passed that era of Moores law. New hardware is coming out with diminishing returns unless it's big and expensive. We're long past the era of every 2 years hardware is released with exponential returns in power and efficiency rendering everything that came before obsolete.
Hell even from an aesthetic point of view Red Dead Redemption 2 came out almost 5 years ago and with higher settings on PC still holds up as a pretty game. The biggest factor holding graphics back these days is development time and money.
Also fab production is a fundamental limitation to a greater degree than it was in the past, prices typically fell quickly as a process node gained better yields and could be made on less busy production lines but you have a much higher fixed cost just to convince TSMC or whoever to put you high enough up in priority to get your wafers made at all.