Been saying this for years OP. The showmanship has left the games industry, yet people shit on Geoff Keighley when he's basically all we got right now. Not saying he doesn't deserve criticism, because he does. It just not for his showmanship...it's for how he chooses to handle the nominees and victors of TGA.
I think a lot of this is because of a transition the gaming industry is going through. Layoffs abound. Microsoft doing away with exclusives basically. Sony with dry ass Jim at the head for the first half of the generation. Nintendo and it's decade-long minimalist strategy (it works, but fuck man).
I understand it takes millions to put on a show and somebody in charge must not see a return on that investment....or they feel they can get the same ROI by doing/costing less. But I think this illustrates a point OP is trying to make. The showmanship requires passion. I do feel passion is falling away and practicality has become more important.