My university education (and childhood dream) was to making videogames. I gave up on the industry in two stages.
First was the main AAA console industry, where there are a lot of cogs in the machine and very few people driving it creatively. Once it was clear I would be a cog indefinitely, I lost interest.
I later gave up on indie games because it’s hard to hedge your risks. It’s a hit-based industry where you won’t find out if you’re making a hit until you’ve already spent all the time/money on developing it. Basically you have no idea whether you’re going in the right direction until you’re done.
That makes it a risky business for the individual. Producers (and to some extent agencies) deal with this by having a portfolio of games in the hopes that one of them will be a hit to carry that can carry rest of the portfolio (just like VCs). But that doesn’t really work for the individual developer.
If you love making games, then make games (!). It’s a great place for the passionate craftsperson. But I do think they’ve got a lot of undesirable qualities as a business in terms of front-loaded costs and limited market feedback.