I think E3 was already kind of an hollowed out husk in the years before, for instance Sony already skipped and did their own thing in 2019: https://gamerant.com/sony-skip-e3-2019-why/
It started dying in the early 2010s / late 2000s. Kids stopped buying fat monthly magazines to learn about new games and started consuming all that information online, for free.
died from a lack of feminine energy, since different people got them to neuter it. and look at that, nobody's interested.
should have taken a page out of the promoter and hospitality economy, kept it sexy and ignored people uncomfortable with that. because in hindsight, that was inclusion too.
there was a crusade against "booth babes" a long time ago that may have started with E3 and expanded to every other tech event by the mid 2010s, notably this push never involved the opinions of the "booth babes" in question, whose interest in being a part of those kinds of events are just as valid as the people that became uncomfortable with them
A lot of similar sentiment is ignored in other hospitality sectors and taken to much further extremes of femininity, it works pretty well. Deals are made. E3 would still have post covid demand too as people are interested in experiences that include that. The major studios would have wanted to be a part of that, because everyone would want an excuse to go.
The “inclusion by exclusion” philosophy was mostly a west coast phenomenon, whereas if you look at tech events in Miami - which contain the same people - you’ll see prideful attendance by all, including what would have been considered “booth babes” and other performers
This article also reads like the writing was already on the wall: https://www.indiewire.com/2020/06/e3-uncertain-future-gaming...
Covid at most accelerated its death by a year or two.