With all due respect to those who have opined, but I think one must be a delusional fool if they'd think that due to the pandemic the crash was going to happen overnight. As with most everyone else, the industry had, or at the very least devised a plan to stay afloat, and have quite effectively managed to do so. A crash may not necessarily mean a repeat of 1983, but could very well be the fall of big-name companies or perhaps customers finally getting wiser and voting with their wallets (which given how acquiescent most gamers these days are, I'd say probably never).
With that said, I never subscribed to the idea that the pandemic would affect the industry, all the contrary. To give you an idea, last month I went to Walmart and the video game displays were basically empty. Hell, they still had some Wii and Wii U games and they were gone! People are locked up with pretty much nothing else to do, so many of them are coping with video games.