With DeFi projects struggling to regain trust since LUNA's collapse, and the current bear market I think this was the perfect time for the play to earn gaming sector to explode, or at least to gain traction in the way Axie Infinity did in early 2021. Sadly just there aren't any exciting offerings right now that I can see... Illuvium and Star Atlas, two of the first "AAA" games in the space are still in development, and may be for another year or so.
Well if you believe that those games will be big hits and played by a lot of players once they are finished then maybe it is a great time now to buy some of their tokens. The star atlas governance token is very low at the moment for example. I am also thinking about buying a few of those but i am not sure yet because looking at the chart it goes constantly down for months now, so i don't know where the bottom is.
That being said, it is true that the play-2-earn sector is also pretty dead at the moment. The prices just keep on going down just like the rest of all crypto projects. Sadly this also means that it is not profitable to play those games at the moment.