What's going to be even more potent IMO, at least until AGI hits the scene, is a hybrid approach: AI generates content, fixes bugs and does optimization, while a smaller team of developers does the overall design, asset curation, story, etc.

After AGI, I could see games being made in a sort of questionnaire format, you'd go through an extensive list that covers basically everything until you're satisfied and the AGI gets to work making the game based on your unique parameters.