Actually its depand on game developers if they only focus on earning then this system will decrease players growth day by day. But i think if developer not only focus on earning and focus on gane development also bring player interests on game then it will not happen. But some of game developers trying hard to bring most unique game in the field i know lots of them working in development for 2-3 years but still they not launch any play 2 earn product on market!!
Unfortunately right now the earning part is the only part. The developers are promoting the part where the player could earn some money, and they do not develop the part where it is actually having fun while gaming.
I have talked about this before, the only game that can sustain would be the game where players are willing to pay to play, there are literally thousands of games that people pay to play, that is how gaming sector is standing afloat, all those in-app purchases and microstransactions are keeping the gaming world alive. Which is a proof that NFT's do have a place, but it needs to be games that people are willing to spend money on.
The real question is whether bringing true gaming experience and a working play 2 earn model can actually co-exist within the same game. this is the challenge of the whole gamefi space and we are yet to find out