I work at a video game company. So I can say that is certainly not the case. The people working on the video games are trying the best to make the best product that they can with the time, money and manpower available to them. How does Ubisoft put out an Assassin's Creed every year? They have 600 people from multiple studios making the game. Activision has two or three studios that swap out their CoD games with each studio doing like a two or three year development cycle. Games take time to make or a lot of people to cram it out quickly.
As for comments about the rest. Play a Persona game, they have 70 hours or more and that is doing everything in the game. Dark Souls and Demon's Souls are games praised for great design and difficulty while having tons of replay value. Record of Agarest War has 100 hours even speeding through the game. There are plenty of games out there doing well. The PS2 has tons of amazing games.
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