E3 prediction: There will be no PS5.
It fits into the budget category, but obviously not the new IP.
Ask the employees of these studios what survival feels like:
3D Realms - 2009
7 Studios (Activision) - 2011
ACES Studio (Microsoft) - 2009
Action Forms - 2009
Ascaron - 2009
Atomic Elbow - 2008
Backbone Vancouver
Beam Software/Melbourne House - 2010
BigBig (Sony) - 2012
Bizarre Creations (Activision) - 2010/2011
Black Rock (Disney) - 2011
Blue Fang Games - 2011
Blue Tongue (THQ) - 2011
BottleRocket - 2009
Brash Entertainment - 2008
Budcat (Activision) - 2010
Carbonated Games - 2008
Castaway Entertainment - 2008
Cheyenne Mountain - 2010
Cing - 2010
Clover Studios (Capcom) - 2006
Codemasters Guildford - 2011
Cohort Studios - 2011
Concrete Games - 2008
Deep Silver Vienna - 2010
DICE Canada - 2006
Digital Anvil - 2006
EA Chicago - 2007
EA Bright Light - 2011/2012
EA Japan - 2007
Eidos Manchester - 2009
Eidos Hungary - 2010
Empire Interactive - 2009
Ensemble Studios (Microsoft) - 2008
Factor 5 - 2009
FASA (Microsoft) - 2007
Fizz Factor - 2009
Flagship Studios - 2008
Flight Plan - 2010
Frozen North Productions
FuzzyEyes - 2009
Gaia
Gamelab - 2009
Game Republic - 2011
GRIN - 2009
Groove Games - 2010
Helixe (THQ) - 2008
Hudson Entertainment - 2011
Humannature Studio (Nexon Vancouver) - 2009
Ignition London - 2010
Ignition Florida - 2010
Incognito Entertainment (Sony) - 2009
Indie Built (Take-Two) - 2006
Iron Lore - 2008
Juice Games (THQ) - 2011
Kaos Studios (THQ) - 2011
Killaware - 2011
Killspace Entertainment - 2011
KMM Brisbane - 2011
Krome Studios (might still be operating on skeleton crew) - 2010
Kuju Manila - 2009
Kuju Chemistry - 2009
Kush Games - 2008
Locomotive Games (THQ) - 2010
Loose Cannon Studios - 2010
Luxoflux - 2010
Mass Media (THQ) - 2008
Monte Cristo - 2010
Monumental Games - 2012
Midway Austin - 2009
Midway Newcastle - 2009
MTV Games - 2011
Multiverse - 2012
NetDevil - 2011
Ninja Studio - 2009
Nihon Telenet - 2007
Outerlight - 2010
PAM Development (Take-Two) - 2008
Pandemic Australia (EA) - 2009
Pandemic LA (EA) - 2009
Paradigm Entertainment - 2008
Pi Studios - 2011
Pivotal Games (Take-Two) - 2008
Propaganda Games (Disney) - 2011
Pseudo Interactive - 2008
Rainbow Studios (THQ) - 2011
Razorworks - 2009
Realtime Worlds - 2010
Rebellion Derby - 2010
Red Octane - 2010
Redtribe - 2008
Rockstar Vienna - 2006
Sandblast Games (THQ) - 2008
SEGA San Francisco - 2010
Sensory Sweep Studios - 2010
Seta - 2008
Shaba Games (Activision) - 2009
SideCar Studios - 2007
Sierra Online - 2008
Snapdragon Games - 2009
SOE Denver - 2011
SOE Seattle - 2011
SOE Tuscon - 2011
Stormfront Studios - 2008
Straylight Studios - 2009
Team Bondi - 2011
The Code Monkeys - 2011
Titan Studios - 2009
THQ Studio Australia - 2009
THQ Digital Warrington - 2009
Transmission Games/IR Gurus - 2009
Ubisoft Brazil - 2010
Underground Development/Z-Axis (Activision) - 2010
Universomo (THQ) - 2009
Venom Games (Take Two) - 2008
Vicarious Visions California - 2007
Visceral Australia (EA) - 2011
Wolfpack Studios - 2006
Yukes Company Of America - 2010
Zoe Mode London - 2009
Zoonami - 2011
Artech Studios - 2011
Dark Energy Digital - 2012
Hudson Soft - 2012
Reakktor Media - 2012
Ubisoft Vancouver - 2012
Don't forget 38 Studios!
Also, it's not just a thing of 'our big budget game flopped, now we're going out of business.' It's also the fact that publishers are pretty much only willing to make big budget games. And by their very nature, there aren't going to be as many big budget games as mid/low budget. So all of a sudden, the amount of work out there dries up massively, and all those studios get shut down because they've got nothing to do.
I think that's been the bigger impact rather than actual flops. Although those have been damaging too.