It's sad, but E3 is really a relic of a bygone era. In the 90s or early 2000s, you almost never saw media from unreleased games. The best you could hope for was a few screenshots in a magazine (and later a website) to tide you over, surrounded by illustrative writing by games journalists. E3 was there to inform retailers of what products were coming, motivate them to dedicate shelf space to sell them, and lastly to provide a concentrated pile of news for the mainstream media to disseminate. This is why for so long the keynotes/showcases were called "press conferences". You can even find some recorded videos from these older E3's where Nintendo and Sony are presenting pie charts and graphs in a fairly monotone cadence.
Today, with the ubiquity of Youtube, Twitch, and other ways of seeing game footage and content, E3 just became another marketing event. And it was an expensive one at that. Publishers and platform holders chafed at the fact that they would have to do a live stage show where gaffes and demo disasters could occur, and marketing departments hated the fact that all of their effort could be easily overshadowed by another company's big reveal. You saw Sony tap out even before the pandemic hit, opting for its own separate showcases where they could control the message and dominate the news cycle. That became the model that more and more companies decided to pursue.
I will miss it because it was a fun event in the middle of May (and later June) that gave you a nice preview of what cool stuff was coming later in the year. There are also some legendary moments from the live presentations over the year, ranging from Sony getting on stage and only stating the price of the Playstation (which could undercut Sega's Saturn by $100, after Sega had decided to rush it for a surprise launch that day) to J Allard introducing the world to the new paradigm of centralized online gaming in 2005.
Today, with the ubiquity of Youtube, Twitch, and other ways of seeing game footage and content, E3 just became another marketing event. And it was an expensive one at that. Publishers and platform holders chafed at the fact that they would have to do a live stage show where gaffes and demo disasters could occur, and marketing departments hated the fact that all of their effort could be easily overshadowed by another company's big reveal. You saw Sony tap out even before the pandemic hit, opting for its own separate showcases where they could control the message and dominate the news cycle. That became the model that more and more companies decided to pursue.
I will miss it because it was a fun event in the middle of May (and later June) that gave you a nice preview of what cool stuff was coming later in the year. There are also some legendary moments from the live presentations over the year, ranging from Sony getting on stage and only stating the price of the Playstation (which could undercut Sega's Saturn by $100, after Sega had decided to rush it for a surprise launch that day) to J Allard introducing the world to the new paradigm of centralized online gaming in 2005.