This is an empty threat. Plenty of games out already that I can spend years playing and replaying. If the gaming industry crashed today, it wouldn't put a dent in anything for me. Anyone who is scared by this, isn't a true gamer.
That's the purpose of live service. You could remove or rewrite content at your leisure and the user has to defence against it, because there aren't any local copies whatsoever. This could be countered by simply pirating the content, but that's criminalized.
Also, keep in mind, they don't think like this.
When they say "Soon you will have no game to play" doesn't mean "no computer games". It means "You will have no platform for your expression so we could control what you think and feel."
CEO of those companies, dictating those policies, don't even know what product they are producing. Hell, they are so disconnected from it they don't even understand the market economy and think in politician concepts of control and opposition. They don't even understand words like "customer". That's why the gaming companies attack gamers all the time. They use "gamers" like "political opposition".
There are probably a few people who would enjoy the new Dragon Age, but even as they play the game, they are not the gamers.
Person who plays a game is a gamer? It isn't, not today. We live in an era when words don't mean things anymore.