On one hand, it's a shame, GAME has been a UK videogame institution as far back as my earliest memories and it's the only high street games retailer left, and I feel very sorry for all of the staff. But it seems inevitable at this point that they're doomed.
Considering other types of media, record stores tend to be independent (or small localised chains at best) and run by true enthusiasts, focusing on the most dedicated music fans and typically vinyl media, and I can't remember the last time I saw a film-specific shop of any kind.
I don't know if there's any potential future in videogames as a high street presence outside of dedicated fans opening independent stores like you see as record stores today, but even then I can't see them being huge, elaborate stores, and certainly there wouldn't be many of them. Maybe if GAME leaned into locations to play games together as an "activity space", with retail being a side-hustle, but that would require a huge transformation of the business that they won't do. These PC rental areas they're trying out are a nice idea and a step in the right direction, but way too little and far, far too late.