You're right, mostly. GDC is for developers, to learn and to do business, and if press doesn't get in the way of that, why keep them out? No one is required to give out info at a conference like this, but they do anyway. Why? Because it's free publicity and advertising, for companies big and small.
If no one but big news outlets get let in, small studios and companies will stop coming. Prices will likely skyrocket, and GDC could shrink to a very small size. Is that a problem? Not really, when you get down to it, but it does hurt the little guys in the end.
That's what I'm most worried about: companies like Activision and EA running shows like these.
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