I don’t know why developers do this but it’s like they have competition to see who can make the smallest font possible, even in menus. Contrast too – a lot of developers have text on poor surfaces.
Robert Kingett, via IGN
Low contrast is a common complaint, particularly amongst older gamers. There are several common vision impairments that specifically result in a loss of contrast sensitivity.
Ensuring a good level of contrast also benefits many other gamers who have situational impairments, such as playing on a mobile device, in direct sunlight, or on a poor quality display.
Note: There is a common misconception that high contrast text can trigger epileptic fits. This is not true. Harding test fails can be resolved by maintaining contrast, increasing font size, reducing line spacing, or ensuring regular well spaced paragraph breaks.