I think the chances of a game market crash were much better 3-4 years ago than they are now. At that time, there was nothing but lame sequels (Twisted Metal, Tomb Raider, Tekken, Crash Bandicoot), with very few new and innovative titles on the market. Now, with the next generation of consoles just around the corner along with two new handhelds, the game market is doing just fine.
I also don't see any issues with a lack of creativity. Several game developers have begun to hire actual authors and writers to create the stories for their games (not just putting Tom Clancy's name on something, either
), and this trend should increase in the future. On top of that, you have movie makers working more closely with video game developers to produce better movie tie-in games that go beyond merely making the movie interactive, such as the recent Chronicles of Riddick: Escape from Butcher Bay prequel game. People that grew up with the Playstation and N64 are also beginning to enter the game industry, which adds even more potential to future titles. With all of that coming together with increasing investment in games (that are now more widely seen as profitable endeavors), I don't think the game market is going to be in trouble any time soon.