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Pre-ordering video games used to have a specific purpose: Make sure you get a physical copy of a game before it sells out. Today, we have infinite digital distribution. So asking customers to pay upfront for a game is wildly unattractive. https://cultureofgaming.com/the-decline-of-pre-order-culture/
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In many markets outside US, buying physical is up to a ~30% discount to digital, so there is still incentive to preorder. The bigger contributors are 1) as some mentioned in the comments; the release of unfinished games and 2) a rapid discounting strategy by almost every publisher, also due to release dates near xmas.
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