'AAA' budgets practically didn't exist when DC launched - it was almost entirely an invention of that generation.
Even PS2 is in the low-double digits, and that's being generous.
I meant by the standards of that time; every gen from NES onward has had its AAA-type/level of game IMO. You know, the big-budgeted games that usually had top-of-the-line production values for their era.
SMB3, Sonic 3 & Knuckles, Final Fantasy VI, Chrono Trigger etc. You can easily tell more money, budget, etc. went into those compared to, say, a Boogerman or low-rent JRPG of that era. I mean, Final Fantasy VII was a big game for its day and definitely AAA-level for that time. Sonic Adventure was arguably Dreamcast's first AAA-level game due to production values and the brand name of the IP, PS2 had some at launch too such as Tekken Tag Tournament.
Those games wouldn't be considered AAA by today's definition but for their generation they were AAA IMO.
I mean if we're talking about the 'peak' point where game mechanics haven't meaningfully changed since - it was hit sometime in 360/PS3 era.
Though it's debatable that we lost a lot of interesting concepts from the 90ies in transition, and some have only started to come back in second half of last decade.
Oh yeah, definitely agreed with the second part there; playing some of those games these days it's easy to see the breadth in creativity of various game mechanics and designs, particularly from more obscure/niche titles, that did fade away or kept scaling down from AAA to mid-tier before fading from that bracket of the industry altogether.
Would also say that as game budgets kept increasing game design & mechanics in the AAA space just kept homogenizing, kept getting safer. That's probably why games like Demon's Souls felt so refreshing (tho that style of game didn't really take off until Dark Souls).
Because PS5 was released recently and we had a global pandemic that delayed many important games. In any case, PS5 runs PS4 games too (and PS4 is still alive) and PS4 has better games than these ones for these genres.
Some of those are very subjective though to be fair. For example I doubt anyone is going to claim GT3 is still better than GT6 or the upcoming GT7. But there's only one Ico, and Silent Hill 2 is still held as the gold standard for psychological survival-horror even to this day by a lot of people.
While arguably surpassed, I think there's a decent group of people who'd say MGS2 is similarly the best in its series, from a story POV anyway.
The Dreamcast's failure was a result of 32X and Saturn failing and the almost notorious fight between SOA and SOJ. A lack of games was never the issue with the Dreamcast. And in someway that also includes the Saturn, which had a good library, although they failed to provide sequels to most genesis classics, most importantly Sonic.
I do agree that Dreamcast's issues were mainly tied to 32X/Saturn failures in the West plus SOA/SOJ trying to tear each other's throats out. But it was also due to lack of funds; they couldn't justify supporting the hardware any longer with what remaining funds they had, I think things like the failed Sega/Bandai merger also impacted this.
You're also right that in the case of the Saturn they failed to deliver a lot of obvious sequels. No Eternal Champions sequel. No Streets of Rage sequel. No Pulseman sequel (maybe not a huge deal, but I'd of loved one personally), etc. That said I do think both systems needed more in specific key genres to have done better in the market. But maybe even more than that, I think for the 1P arcade ports they really needed to prioritize having more content in the home versions than they typically ended up doing.
Namco were great at this, I think Sega should've followed their lead on it. They did very occasionally, but not consistently.
Bad to hear that you got burned out and wasted money, but I don't see how the games were the issue here, especially for the Dreamcast you had a great selection to choose from. It's a shame the system only lasted for 2 years, but at least it were 2 years full of great games.