Couple of Chinese games I can think of are Dyson Sphere Program, Sands of Salzaar, Amazing Cultivation Simulator. All are quite good and measure up to some of the corresponding American titles (Factorio, Rimworld, etc.)If Chinese money was good enough, people wouldn't be debating how China could make their movies have the same reach Hollywood does and we wouldn't be having this discussion. If you think as long as Chinese movies are making enough money in China then Chinese movies are in a healthy state then more power to you, for others though that's clearly not the case.
So because Genshin made a lot of money are you trying to say the title of video game hegemon belongs to China now? What has China released since Genshin? Meanwhile compare a single game to Japan's IP's stretching back to the 80s. Its not even a competition bro. I seriously don't know what point you're making with all this.
Also in my experience Genshin Impact is crazy among ABC's. So many ABC friends have played and even payed for things in Genshin Impact. While Elden Ring is a very good game (one of my favorites), I don't know anybody irl who has played, much less completed, the game. So although "quality" (this is very debatable), might be different, Genshin Impact's market reach even in America is unlike anything I've seen.