It's a good thing, with the usual downfalls of a growing entertainment medium:
The more popular videogames become, the more money is put into the industry. With more money the developers have more money to create better quality products, OR incentive to re-hash commercially successful ideas for safe ways to make money.
The ratio of crappy-to-excellent games will remain the same, but as the industry grows both will be more numerous. We will have an overflow of crap, but we will also far more good and excellent games than before (same as with movies).
Also: I don't enjoy feeling exclusive (which means I have to exclude others) any more than i enjoy feeling excluded from something myself. So no, I don't think going back to excluding others from our community will bring any good (It's what killed Comics).