There were never a great deal of horror games to begin with. It's also pointless to say "true horror" as everyone has something different they find scary. What might be a walk in the park through mulberry lane for you, will be someone elses worst nightmare.
I don't think it's fair to say that any one game has "cheap" scares.. if you really think about it, there isn't a single game that should truly horrify anyone. The only thing a video game can do to you is waste your time when you die. If the game is immersive (according to firefox immersive isn't a real word ..), you will feel your heart beat faster just at the thought of turning that next corridor not knowing what lies behind it. If the game is fun, the "cheap" scares will be good enough, because who really plays a video game to horrify themselves? People that need something better to do.

(I play to have fun personally

).
I think that Deadspace1/2 pull off the fighting for your life while occasionally getting the pants scared off of you thing quite nicely. Sure, you can fight back but when could you really not? I guess if the baddies are ghosts.. but haven't you ever watched a scary movie and the bloke just runs away and you think... dude there's a huge branch on the ground right there (or a rock) pick it up and fight back?
When people quote Amnesia as being the only true horror game in a while, I think to myself "why would that be fun?" is running away from things for hours on end really that fun? Maybe you have to like puzzle games to enjoy that type of thing, but I would rather just play a game that challenges me and entertains me. Not makes me feel helpless and show me a bloody GAME OVER screen every 10 minutes because something that's invincible killed my polygonal counterpart.