Tastes have changed as well. An AAA title is expected to have mo-cap, cut scene, bleeding edge graphics as a baseline. Once you hit the baseline only then can you start to explore the often lacking innovations at the mechanic level.

It's frankly the main reason it is such a promising time for mid tier indie developers. Games with interesting mechanics and concepts ARE getting traction and rewarding risk taking. Modern game development studies are ripe for disruption.