Eh. E3's that day when all the companies reveal what big things they've been working on. They do it all at once, which gives it more meaning. Sure, people could just subscribe to a gaming subreddit and see it that way, but the fact that it all happens at the same time, over the course of 3-4 days makes it a bigger and more exciting event. I appreciate that, because it's less work for me, since I don't feel like checking up on gaming news every day for fear that I'll miss some big news when it comes out at some completely random and arbitrary date.
Does it need to be a conference, or a live situation? I'm not so sure anymore. Today, people are connected enough that you don't have to actually be there to know what's going on, you know? Think of the money these guys would save if they just released videos online, and didn't waste so many resources putting on some huge live show every year.
Then again, the conferences DO offer demos and things for fans to play with. That's a nice experience for them.
I dunno. Arguments for either side. Whatever.
So yeah, argument about relevance of E3: done. Let's just talk about games, now.