2 More Companies Dropping Out Of E3, Is E3 No Longer Relevant ?

Looks like 2 more companies won’t be attending E3 this year. The first company is Disney Interactive who will be doing “additional direct to fan engagements through the summer this year.” It appears that E3 booths are becoming too expensive and companies would rather hold their own presentations. The second company is Wargaming, which makes online PC and console games such as World of Tanks, also won’t be at E3 as “From a strictly business perspective, E3 just doesn’t fit our current direction.” These companies join EA and Activision who will also no have there own booths at E3 this year. With E3 being a non fan event and with YouTube being a thing, I think companies are seeing that E3 isn’t a necessity. It would be much cheaper for companies to hold and event, invite YouTubers and have them talk about there game. What do you think ? Is E3 no longer Relevant ?