My opinion is that Quicktime events WERE fine a few years ago, but have since become a refuge for the lazy. Rather than coming up with cool gameplay mechanics for whatever it is they want you to do, they throw in a quicktime cinematic, and to me that's just "meh". In many cases I have no doubts they COULD have made it more interactive, but to do so would have taken too much more effort and/or money that could otherwise be re-routed to buy everyone Pizza, Blow, and/or Hookers (apart, together, or in any order)... or basically the less they use of the dev budget the better, as far as I've heard game developers love to use the producer's budget for things other than developing the actual game.
Truthfully I think Yahtzee was just about right when he jumped on the hate-wagon for Quicktime events. There is increasingly becoming less excuse for them as for every example where you see a quicktime event, there is typically another game that has done something similar without using one.
I also suspect a lot of the problem is the fact that real game design is a dying art. Instead of developing their own engine/code, most game developers wind up liscencing an engine such as Unreal, GRAW, Havoc, etc... and thus a lot of their excuses tend to involve limitations of the engine, and then when the engine updates they talk about how "the new engine these other guys made will let us do things we wanted to but couldn't before..."
you hear it all the time.
See the thing is that game designers and programmers are supposed to bloody design a game, if there is something they want to do, they are supposed to program a way to do it. Not rely on an engine created by another programmer to do the bloody work for them, and if he hasn't, well then it's too difficult and they throw in a bloody quicktime event.
In the meantime we pay $60 a pop with no differentiation between whether or not were just buying Unreal (or whatever) with a new coat of paint and some tweaks, or something where the game designers put together their own engine and scratch with a lot more effort involved.
God Of War gets by for being "cool" with Quicktime events because it was the first game to do them, but after that it became a crutch rather than an innovation.