I think if LucasArts and Sierra didn't collapse, there would be many more adventure games in the style of what Telltale Games makes today. Nothing that different and groundbreaking.
However, I think there would also occasionally appear big budget experimental adventure games like The Last Express in 1998. And these would probably more often lose money than make some.
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A Hardy Developer's Journal - The Scientific Society's online magazine devoted to charting indie adventure games and neighboring territories
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