Gaming doesn’t compete with short form video. It competes with ‘time’. It’s different.
Video games are multi-hour, premium, experiences. They are so good you forget the sense of time, you escape reality and the challenges and stresses of today (of reality). Short form video is what you do when you have a few minutes multiple times throughout your day.
FYI, the average core gamer spends 3+ hours in the games they love on a daily basis. Some 5+ hours.