From Jason Schreier. “The plural of ‘anecdote’ is not ‘data’,” but this is some analysis from Schreier seemingly rooted in many anecdotes. The long and short of it is that development on AAA games tend to routinely hit bottlenecks where entire portions of a team are waiting for some other team to unblock them so that they can continue to get work done.
TLDR Bloated staff sizes and poor workflow management means salary costs skyrocket while a lot of people on staff are left waiting for things to do. The article keeps saying the costs aren’t just about better graphical fidelity, but I think this issue is somewhat related because a big chunk of staff are going to be artists of some variety, and the reason there are so many is to pump up the fidelity.
Not that it much matters to me personally. I’ve said before that games have long ago hit diminishing returns when it comes to technical presentation and fidelity. I’d rather have a solid game with a vision, and preferably a good visual style rather than overproduced megastudio visuals. Those kinds of games are still coming out from solo developers and small studios, so it doesn’t affect me one bit if big studios want to pour half a billion into every new assemblyline FPS they make.