We do all realize what the crash of '83 was all about, right? We just had a bunch of crap. If there were gems, they certainly couldn't be found. Even the NES wasn't made of gold. It just had recognizable, good games that people could rely on, instead of a million, $100 development cost, crap titles. These days, we have a pretty fantastic balance of good and bad, and although there is certainly more bad than good, we don't focus on it. Instead, we focus on the 10 gems out of 1000 titles of crap. Don't put so much stock in E3. Most good stuff doesn't even show at E3 unless developers are trying really hard to hype it.
E3 will be better next year; we can't expect E3 to be good every year. This is just an in between year.
Don't count your chickens before they hatch, yadda yadda yadda.