I think where the comparison to the past gaming crash falls apart is that the "conditions" that are being tied 80's have mostly been present for as long as gaming as been around in some form or the other. We've always had a glut of hardware options to choose from (both real and vaporware). PC gaming has always had the "influx of poor quality games" as a problem, especially as technologies like Flash became popular. High profile game failures have been a constant part of the industry since it began. It only seems bigger now because the game industry is bigger and the internet magnifies these situations beyond what we would have seen in the past.