I am not a programmer, but I guarantee I could gobble together enough free or paid assets to technically qualify as a game and have it "released on Steam". That's not a high bar.
And yet, I don't think we're headed for another crash similar to the 80's one, or that digital marketplaces are necessarily even oversaturated with games, since there's multiple ways of curating, sorting, and showcasing the best and most popular ones.
But I do think the onus is on consumers to use these tools and shop smart (and patiently, if they want the best deals), especially in this economy...