Weird thing is I see the need for the show itself for the industry to get together. It creates a buzz for everyone to ride on and allows those in the industry to network and work on things. However E3 recently had steered away from the industry in favour of celebrity's, influencers and advertising to the attendees which has just annoyed everyone and meant their event is now surplus with the industry using GDC more to mingle and showcasing year round visa YouTube. Had they not moved the event in this way it would still be relevant.E3 has been on a downfall for years and irrelevant in this day and age, Sony pulled out some time ago.
With the internet these events are genuinely no longer needed, just release a recorded show on Youtube and you'll have a worldwide audience.