That's ridiculous. Game companies are nothing like sweatshops and the reality is much less sensational than what you hear about, which should be no surprise.
Most are basically 9-5, generally with flexible hours. Often free food/snacks/games and other perks. Some take Friday afternoons off to drink and play games. Crunch toward release does happen a lot, it's a problem, but they're getting better about avoiding it.
You hear about the horror stories instead because that's outside the norm. "Game company mostly works normal hours, chills on Friday afternoons" isn't going to get much attention.
Worked ~6 years in that industry, every placed I worked was a meat grinder and all the places my coworkers came from were meat grinders.
There's an attitude that if someone has "paid their dues" then new hires have to do the same and the cycle perpetuates. Saw 3 divorces on my last title alone, I don't care how much "passion" you have(and it will be exploited) that industry is not worth it.
Every year the IGDA publishes the Developer Satisfaction Survey that gives both a snapshot and longitudinal picture of the industry. The trends around things like work-life balance, diversity in the workplace and in the products themselves, and future outlook are all positive and have been for awhile. Most game developers day-to-day reality looks nothing like your experience, yet that impression lives on despite the reality on the ground.
I used to work for EA (five years at Ghost, specifically) and my experience there mirrors what you described. Often there was a crunch towards the end, but the last game I worked on had none. I'm currently working for Zoink and it's similar, though with a stronger stance against overtime.
Thanks. Also thanks to the silent majority who kept my post well afloat. It's weird that describing what typical game companies are like is controversial here.
Most are basically 9-5, generally with flexible hours. Often free food/snacks/games and other perks. Some take Friday afternoons off to drink and play games. Crunch toward release does happen a lot, it's a problem, but they're getting better about avoiding it.
You hear about the horror stories instead because that's outside the norm. "Game company mostly works normal hours, chills on Friday afternoons" isn't going to get much attention.