E3 has had a foot in the grave for the last ten years. The availability of the internet kinda invalidated any need for expensive physical conventions. When they changed their rules to allow the general public to attend, that was a pretty clear death rattle, imo. And the Big 3 all pretty much pulling out entirely and doing their own streamed announcement events didn't help matters. Covid also ended up killing whatever momentum E3 had left. Basically everything was stacked against E3 for a long while now.

Super disappointing, but also super expected, honestly. See you in the next life, giant enemy crabs.