Not really. There have been more lay offs in the past 5 years, than anything from 20 years ago. According to Woolie, and especially Pat, it's been a slow crash. If big companies like EA, Ubisoft, or whatever ever decided to pull out completely then those big companies would burn, but those who mainly work in the indie and AA sector will be fine on Steam or eShop working through the ashes. So it's not a everyhting is on fire all at once type crash.Haven't we been in an industry crash for like 20 years?
I personally don't want a crash to happen, but if it does, I am not going cry for most the Western AAA companies going out of business or the stock people pulling out. Gamers as a whole have so many other options, and those people who only play the one AAA game (Madden, FIFA, COD, Gears, or nothing else) will leave and have no reason to buy a console or game anymore, should this ever happen.