The problem with blaming it all on the companies for making choices for games that don't end up working out is that that point of view would cause companies to only take the safe bet. That means no new IP, no risks like Farcry Blood Dragon, and a very boring investment in future games. Piracy and used sales are surely not the only reason, but there are people out there that pirate or buy used games that could afford new. The magnitude of that is beyond what I could try to estimate, but obviously the industry thinks its a size able enough issue to possibly take severe backlash over. The next few months will be interesting.