Well, Todd Howard tackled the topic in an interview with Lex Friedman - when he talked about the upcoming streaming series based on “Fallout” (and helmed by Jonathan Nolan).
Basically, he said that when Fallout 3 came out they were submerged by offers about turning the game into a movie - and these offers were usually based around “turning the plot of the game into a two hours movie”.
So they passed (kudos that they didn’t just grabbed the money). The point was that Fallout was a “world”. Why not to choose a place and tell a tale around that place? Which is the approach that Jonathan Nolan apparently took.
Now, IMHO Howard is right. There is no reason as why a series based on “Fallout” couldn’t become “The Walking Dead”, with each new season introducing new places and characters. I hope that “The Last of Us” WON’T become TWD, as even the authors fumbled the ball by game 2. Anyway, you can find Howard’s observations at 2:29:00 here:
https://m.youtube.com/watch?v=H9AAnV59ddE