[PeterisP]

I mean, they aren't saying that players don't products, the point is that when "players will still happily arrive and spend lots of money" then (unlike earlier years) those players are leaving some other product (quite likely also made by one of the same few major publishers!) and spending less money there, so building that well-crafted product didn't bring new sales but cannibalized existing sales; and if the industry builds twice as much well-crafted products, the total revenue for the industry will be pretty much the same, with the only difference being that maybe one publisher will gain slightly more sales at the expense of another.