In a IndieGames.com (via Gamasutra) interview with XII Games head Vince Twelve about this teams latest indie effort Resonance, Twelve was asked what he thought about the recent revival the adventure game genre has endured. His response:
"I don't think it was ever gone. Anyone who loves adventure games has always had them available, whether from the handful of high-quality professional titles each year or from the deluge of amateur and hobbyist releases. Every once and a while, they break into the mainstream (Telltale nabbing several high-profile IPs, DoubleFine's Kickstarter), but there have always been adventure games for those looking for them."
I agree with Twelve, completely. I've had the same conversation about the music game genre. Neither ever died, they just became less prominent in the AAA space. The landscape changes as the level of funding does, but quality or output is relatively unchanged.
But seeing as I think both genres make really great contributions to the medium that are worthwhile any AAA productions are welcome. I'll take more of either in any way I can get it, really. There's no reason L.A. Noire and Double Fine's Kickstarter funded game can't co-exist.