Financial woes in the video game industry

It is no secret that the industry is experiencing a pretty rapid, substantial contraction. Sega US announced layoffs yesterday, Embracer just a few days ago, Microsoft laid off 1900 actvision/xbox employees, and the list only grows larger/more dramatic the more you look into it.

I'm just curious what people here think. Is this an opportunity for indies? Could this lead to a substantial overhaul in how some studios are run? Is it just going to get worse and deeper as we enter a new dark age?