Ya see, thing is, CoD isn't the sole reason of the alleged "FPS decline."
Multiple factors, like stat tracking, greedy publishers *Cough* EA *Cough*, and instant gratification all have a negative effect on the industry. However, to say that gamers don't flock to innovation is nonsense. Minecrafts success proves that, along with many other indie games. Quite frankly, CoD will break eventually. All empires fall, some just last longer than others; the outcome is still the same. And when CoD does finally die, we shall see what the new age ushers in. Perhaps Destiny might just be the killer that's been notably absent for so long. We shall see. Also, dev's need to start growing back their pairs and take some risks. Stagnation is obviously not working. Look at what happened to Halp 4.
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Halo Reach,Halo 4, Battlefield 3, Farcry 3, were all "COD Killers" yet all fell short on sales that term is so over used and has yet to be true.
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Hard to imagine Activision supporting a game that will "kill" their biggest money-maker. On the other hand, maybe they see the end of CoD themselves and want to cash in on the "next big thing".
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Precisely my point. They'll obviously go with what makes more revenue, so really, either way is a win for them.