I think stuff like lootboxes stem from games being made strictly for short term profit nowadays. I don't have an inside look at the history of game development, but just from what I have seen and experienced from my childhood to now is that back then, it definitely felt like game devs truly wanted to make a good game (and get paid for it appropriately). Today most big dev groups are controlled by corporate execs who only care about short term profit, so they will gladly cut corners and introduce shitty mechanics because to them it is all about making money, the actual quality of the game does not matter at all. That element of truly wanting to make a good/memorable gaming experience is gone.