So I partially agree with you, but there is something to be said about doing it under a financially secure company. The company could eat all the risk and let the devs make what they want without fear of failure meaning they don't eat. They could work full time on the project and if it doesn't work out then they can move onto the next thing. Sure, the company is going to take some of the profit, but the ideal model for this would be they use the profit to mitigate risks for the devs, not to just make themselves rich.
This isn't going to happen with any of the existing large game dev companies obviously, but if a smaller studio runs as a coop (or similar employee run business) and becomes successful I could see it happening.