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A lot of game companies are feeling the crunch of the economy, I'm not sure about EA specifically but I know Midway may face going bankrupt sometime in the near future as 150 million in debts have been recalled. Several studios have announced they're closing up shop lately as well.
Piracy is definitely a concern, but I think a big issue for a lot of game makers is they've been pushing out crap at full steam for so long and people were buying because money was there. Now that money's tighter, they aren't buying quite as much of the crap. There were very few "great" games for 2008.
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Free agent
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