Geoff Keighley blames E3 for its own demise.

TL;DR Summary
Summer Game Fest host and producer Geoff Keighley has denied that his event was responsible for the cancellation of E3 2023, stating that E3 "sort of killed itself in a way" due to a relevancy and participation problem. Keighley also denied that publishers choosing to participate in Summer Game Fest instead of E3 accelerated the cancellation. He stated that Summer Game Fest was created because he saw the "wheels falling off the wagon of E3".
'E3 killed itself', not competition from Summer Game Fest, says Geoff Keighley | VGC Video Games Chronicle
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