Over the last few years I have started to notice more and more signs that their might be another video games crash like the one in 1983. 
Here are some examples :-

(1) The recent spate of  studio closures such as Realtime Worlds, Bizzare Creations, Propaganda Games and  Cohort Sudios.
(2)  Saturated and divided market due too the plethora of formats/consoles (PC/Sony/Nintendo/Microsoft/Apple/mobile)
(3) A (general) lack of innovation and an over reliance on sequels eg [ another Bond game] [ call of duty] Killzone 3, Resistance 3, Dirt 3 etc
(4) high-profile disasters for the industry such as the current PSN hacking (and subsequent loss of personal data) and the after effects from the Japanese  earthquake and tsunami. [ source]
(5) The rising cost of developing games "estimated to be roughly $10 million as compared to $3-$5 million for the Xbox, PlayStation 2 and GameCube" [ source]
(6)And  although April looks set to see growth  in games sales of up to 15% (due mainly  to the release of several major games)   it will still be "only the fourth month of growth in the past year".  [source]

While it,s not all bad news in the industry ( China's online game industry to grow $5.8 billion) I do still think that there will be some form of crash/slump which will also see some  major casualties or with drawls,  (possibly such as Sony).

What are your views on the state of play at the moment  and for the future ?

[edits]
(1) added Propaganda Games to list of studios closed. (13.5.11)
(2) Fixed dead link on point No 6 (13.5.11)