It’s genuinely upsetting to see people losing their jobs in pursuit of company profits.
That said, the AAA game development model is broken financially. If Indies and small studios get the release space and attention they need to thrive now, the death of widespread AAA gaming is a wonderful thing.
How many of the most interesting gaming experiences in the last decade have been indies? I would argue most of the best games have been made by teams with less than 30 people, often single dev “studios”.