Hm.. nearly everything Valve and Blizzard produces proves your statement. The companies which are able to produce AAA titles aren't as big for no reason.
Their games have or had an appeal to the gamers.
Skyrim was hyped to the point where you could believe that playin' Skyrim will cure cancer. We know that's not true, but it's still a really awesome game.
Diablo 2 has already proven it and D3 will prove it too.
Even if BF3 was a buggy piece of shit when i bought it - and i expected it, since it had an EA lable on it - is a splendid shooter with the best atmosphere i ever had in a multiplayer shooter. (I don't count the singleplayer of both CoD / BF3, because they're clearly gimmick and not the selling point of the game).
Other examples outside Valve/Blizz? Deus Ex, Bioshock 1, Fallout, Civ 5, both SaintsRow + GTA series, Red Dead Redemption, Mass Effect / Dragon Age Series..
Of course not every gamer likes every genre as i do, but to say AAA games are shit pre se is ignorant - as ignorant as to say you need a million dollar budget to make a great game.
The Bastion, Limbo or Minecraft have proven otherwise.
Teh monehz can make stuff easier to create games, but also mostly bring you more pressure and complications with publishers/shareholders etc. But money is definitly not the main component to make a great game.