I think there is still roughly the same number of worthwhile games that get released each year, they are just buried by a ever increasing pile of shit.
Which isn't a new problem, it's just a lot faster and more prevalent. I really hope Valve (the premier marketplace for PC and indie games, alongside Itch) cracks down on it and hands out things like a "seal of quality" to separate slop from serious attempts at making games.
(because they earn money from everything and they have no real competition they don't actually crack down on slop, just like the various app stores don't care much about shovelware as long as it earns them money).