There's panic hanging over 2026's Game Developers Conference; not a loud, frantic panic, but a low, persistent hum that settles into the corners of hallways that were once known for celebration and reflection. Tens of thousands of people still pour into San Francisco’s Moscone Center: developers, business assessors, media, students; but the directions are unsteady, and the mood is unmistakably despondent. Conversations drift toward the same uneasy conclusion: the video game industry is no