TL;DR of the article, generated automatically.

Games M&A advisor Rhys Dekle says cheaper AI production doesn't make studios worth more.

• Costs: savings real for indie, mixed in mobile, "mostly a mirage" in triple-A.
• Moat: AI helps only studios owning IP, community or data rivals can't copy.
• Buyers: sellers must prove a human made the work, or get less.