Absolutely spot on description of the gaming industry. I spent a few years in it. I won't do it again, precisely because of the issues you describe. The kicker is they don't really seem to care that the "best and brightest" aren't interested in working for them. They care about getting product out the door, and quality is only on the radar to the minimal extent necessary to keep a plurality of fans happy.

This is especially an issue with "big name" companies that have "franchises." Their core market is unlikely to not purchase the next release in the franchise, so quality is less of an issue.