There are real issues with game development as far as the costs and logistics associated with making a AAA title, and the risks of that title not performing. That will invariably lead to less risk-taking.
That said, I tend to avoid using the word 'soulless' because everybody working on a game, from design leads all the way down to QA, are putting their heart and soul into making the best of whatever project they've been given.
Making games is hard, and it's STILL usually in the final WEEKS of development that everything comes together. Imagine working on something for years, and it feels like everything is on fire until the final few weeks. I'm amazed everybody working in games isn't an alcoholic.
I also wonder how much of the feeling of 'soullessness' comes down to getting older and nostalgia.
I feel like the SNES/Genesis and original PlayStation/N64 era were the most exciting times in gaming, where it felt like every month there was somebody trying something new, and getting at least most of the way there. But then when I visit my cousins, they feel the exact same way about games like Minecraft, Roblox, Fortnite, League of Legends, Valorant, etc
They are excited for every new update, every new discovery, every new character or hero etc.
I can sit here and wave my cane and say 'that's not as cool as having a ton of different new games and IPs all the time', but if they feel the same way I did at their age, is it really worse for them?
Sometimes I feel like games are like music. You know that old saying, that the music you listen to between 14 and 20 is the music you'll consider the best for the rest of your life? It just imprints on you as your forging your identity and becomes the standard. I feel like maybe our experiences with games are the same way. We experienced games and the industry a certain way, at a certain point, and no matter what happens moving forward, it will never feel as 'right' as it did back then.