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People spending more time with fewer games is not a reason, in publishers’ minds, to reverse course. It’s the intended outcome.
Having the same number of people (or near the same number) playing fewer games, and filling those games with monetization features is cheaper and easier to maintain than having a broad and growing library of titles.
Remember, the ideal for publishers is to have one game that everyone plays that has no content outside of a “spend money” button that players hit over and over again. That’s the cheapest product they can put out, and it gives them all the money. They’re all seeking everything-for-nothing relationships with customers.
But in a world where we assume that they achieved that, ignoring the long games without microtransactions like Baldur’s Gate and Zelda, there are industry-wide effects at a macro level.