As the title says, name a lesson in gaming no one has learned. Because "those who forget history are doomed to repeat it".
For me: hyping the "competition killer".
Even if the product turns out decent, more often than not, that's never true. When successful, it just co-exists (see: Sonic the Hedgehog, which was hyped as a Mario killer by SEGA, now it co-exists and Sonic fights Mario in Smash). Another example, the Steam Deck, which when announced the press and Valve's fans called it a Switch killer, to Valve's credit, they admitted it isn't to compete, let alone kill Nintendo's handheld. Still didn't stop the claims and click bait (like below).
But when it fails, DEAR GOD! One infamous example is the RPG Two Worlds, which was hyped to kill Elder Scrolls (and given how much Bethesda, mainly anything by Todd Howard that ISN'T Morrowind is reviled on the internet, that would've made a lot of people's days). Yet it was a disaster of meme levels.
But that's my choice. What's yours?
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