Been watching a lot of very detailed and compelling analyses (uh-NAL-uh-sees, not AN-uh-LIE-ziz) of stuff lately, from cinema to gaming and most visual art... This is a pretty good look at the downfall of arguably the biggest franchise of the seventh generation.
That said, I can't offer too much myself: I remember little of 3 and WaW, and Modern Warfare struck me as a needless deviation from the gravity of history, loaded with the plot of a generic Tom Clancy (spelling?) novel.
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Oversaturation is what happened to Call of Duty.