My understanding is whales make the mobile gaming industry the juggernaut it is, but without whales it would still be a sizeable market.

My mental image of it is looking at Apple when the iPhone was 2 or 3 years old, and today's Apple: its current size dwarfs the Apple of back in the days, but it wasn't some small also-ran company, it's impact on the whole industry was still pretty big.

AppsFlyer's data on this was interesting, while not straightforward to interpret from our angle.

https://www.appsflyer.com/resources/reports/app-marketing-mo...