Yes, and it's not only gaming, it's modern media - fantasy and scifi in particular - in general. Everything is self-ironic, with the author constantly reminding you that he knows he's just writing silly fiction and isn't taking it too seriously, wink wink nudge nudge, we all know fantasy tropes are kinda weird so let's lampshade it at every opportunity. We don't wanna come across as nerds by taking silly fiction too seriously, do we?
It's fucking terrible and ruins everything it touches. I love reading old 1930s sword & sorcery, many of these stories are completely over the top and out there with imaginative alien creatures and wild sorceries, but they take it completely seriously. Humor, if it appears, comes from the characters themselves rather than the author inserting himself to poke fun at his own tropes. Characters actually care about their world and their quests. The stories take themselves seriously, and therefore manage to immerse you.
A world that doesn't take itself seriously cannot immerse, because it keeps reminding you that it's just silly fiction. And if the author can't take himself seriously, why should you?
The worst examples are, of course, in Marvel and Disney movies of recent years, where characters constantly quip about the things that are happening around them in ways that feel completely unnatural for a person living in that world, and instead is just a wink wink nudge nudge to the audience. I utterly abhor it.
Here's a great example of how horrendous it is, and how it completely destroys the atmosphere of the scene:
You have a chase scene with a shootout, the protagonists driving away while stormtroopers chase them. Laser bullets fly everywhere, it's a scene of high tension and danger. Then some stormtroopers launch into the air with jetpacks to attack the heroes from above. Escalation! Rising danger! Excitement!
Then, one of the characters asks, baffled: "They fly now?"
Another echoes him, even more baffled: "They fly now?!"
The third shrugs and says: "They fly now."
And boom, all the tension, danger, excitement is gone. It's all just a joke now. And it's completely retarded, because one of these characters is an ex-stormtrooper who should know that the army he served up until like five minutes ago uses aerial assault tactics with jetpacks. This little exchange single-handedly destroys all believability of this scene, and the setting as a whole. It stops being a believable universe with people who live and experience in it, and turns into a silly collection of tropes for the audience's entertainment.
A lot of modern games use that same self-referential, un-serious writing style and it immediately kills any immersion you might have had. Pure shit.