I could live without them, sure. But would I still play new video games? Probably not. I have over 1000 games in my library, and I'd say over 90% of them are Konami, Capcom, Sega, Namco, and Nintendo titles.
-Capcom Production Studio 2
-Intelligent Systems
-Matrix Software
-Amusement Vision
-Treasure Video Games
-Namco CT Company
-Eighting
-Clover Studio
-Chun Soft~ though I rarely get to play their stuff
....last gen it would've included...
-Nintendo Entertainment Analysis & Development
-Sega-AM2
-Sonic Team
-Konami Computer Entertianment Osaka
-Quest
-GameArts Entertainment
Developers come and go, and one thing that's always true is that there will always be really talented dev teams out there. Right now, Koei's Omega Force team is the wind beneath my wings, but I survived the self-destruction of Dream Factory. There's no reason to think gaming will suddenly become stale if any particular developer disappears.