I can't believe we're still having this conversation.
Look. Many people nowadays like to play games. Some of them have more time than others. Some want to play through a game like it was intended to. Others just want to see the spectacle. They don't care. They have tons and tons of money, a giant TV, they bought one of those PlayStations to play one of those Assassin's Creeds or whatever. They don't want to grind, don't want to play side quests. They want to play through the game and see the pretty graphics. They see a way to skip some of the more tedious aspects of video games, they'll pay for it.
We're not alking about you or me here. We're talking about some bankers who decided video games were cool and want to play them on turbo mode. They don't care loot boxes are in this. They'll buy them, tell their banker friends about them, maybe even get addicted and try to get everything there is to get out of those loot boxes. These people can generate A TON of money for publishers. That's why loot boxes exist. That's why crappy mobile games generate millions of dollars every day.
The "integrity of video game balancing" or the fact that cheat codes used to be free is irrelevant to them. They just don't care.