AAA gaming generally needs graphical increase over and over to keep the model afloat and at the same time it does need big sales.
With changes to semiconductor industry, increasing cost and depletion of finances of average consumer this is becoming an growing issue.
In last two decades solution was to simply throw more and more hardware at the problem. Consumers had more money (+ fast increasing debt) and shrinkage of process was bringing cheaper transitors over, so it all worked.
It does not work anymore.
That is why one of possible solution is software. DX 12 or/and Vulkan can potentially allow for graphical fidelity to keep increasing in times of slower hardware advancement and consumer adoption.
Sure the downside is increased cost of software developement, but there is not like there is lot of choice in the matter.
Unless either:
a) economic situation will drastically change, rebound and general population will start to have more money
b) semiconductor industry will shrink cost by alot and thus hardware will get cheaper. Will it happen though? Will EUV come and it's effect will be strong enough?
Of course there is scenario, in which current model for AAA gaming industry collapses which is certainly possible, but I would not bet on it as much as some do.
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