At the rate the console wars are going, with Sony and Microsoft losing money hand over fist, and with the fact that both companies are massive megacorporations that don't need video games, we might be heading for 1983 all over again, with Nintendo and the PC casual games companies the only ones making any real money.
Mind you, the next "crash" will be more like a shakeout than a complete collapse of the industry (one thing that will set it apart from '83), but the gaming landscape is going to look radically different five years out. It's already happening on the PC with the dramatic slowdown in technology acceleration in graphics cards and with Vista's sluggish adoption rate marking bad news for DirectX 10 on next-gen PC games, it's already happening on consoles (q.v. title post of this topic). The only question left unanswered is whether it'll lead to greater homogenization as EA, 2K, and Nintendo carve up spheres of influence or whether it'll lead to a wholesale drop in big-budget AAA titles and thus a greater influence for independent developers (perhaps aided and abetted by distribution channels like Steam.)