I think people have their head in the sand about how disruptive generative AI will have, not just to the game industry, but all entertainment industries.
It has started with music, 2D and 3D art, text to voice (voice actors no longer needed). Entire 3d environments, and then worlds, characters, story lines will be generated on the fly. The people holding IP will be the big winners (Disney, etc). If you don't hold any IP then you'll be shit out of luck.
I too started in the games industry 20+ years ago, and would not have recommended it even then. Crunch was brutal, the pay was low, and I left feeling like I hadn't learnt software best practices or really progressed in my skill set compared to people working in "boring" enterprise shops.