The other thing that happens is you point out a really good game and then someone will say, yeah but that's not a good game because of the art style or it's too similar to something else etc. Everyone can always come up with a quality reason why a game didn't sell. Someone has a reason not to like every game ever made. The problem with that is you can come up with the same complaints for well reviewed games. Often the review will say something like : this has been done before, or that style is a little annoying, but.. it's a great game.
Final nail in the coffin of this theory for me is having talked to many game review editors and having worked with a few, they will often tell you that they don't always expect to shape opinion as much as parrot it back. As one person used to tell me, most people read our reviews to validate their purchase or get our take on what they are playing.
And then to your challenge. Good games that didn't succeed. How about Midnight Suns, Lock's Quest, Space Marine, Company of Heroes II, Maquette.. that's just off the top of my head. If I thought about it I could make a really long list of game you've never hear of. This is probably the same for everything: music, novels, etc.
They make extremely niche RPGs that routinely rate >90% in positive reviews on Steam and they've never had an actual hit. Pretty much the definition of cult classics.
System Shock 2
Psychonauts
Shenmue
Okami
Conkers bad fur day
You're making the assumption that the way to win is to GO ALL IN.
When in reality whether you're making AAA games or a small indie digital artist like Darius Kazemi... https://www.youtube.com/watch?v=l_F9jxsfGCw (Went to high school with him. Amazing guy. His senior project in the electronics lab was a teddy bear that could detect seizures.)
You are just buying lottery tickets.
Luck. Word of mouth. Anyway, things you can't control (and can barely influence) as a developer/publisher. So, we face the notion that, perhaps, if we want people to take the risk of creating and sustaining a business for reasons other than simple profit (say, to provide a needed or pleasant service), the proposition might need to be better than, "Succeed or die (sometimes literally)." Because none of it's a sure thing, and it can't be, but sane people generally aren't going to bet their life or livelihood on a risky venture (assuming that irrational passion is a form of insanity).
Product + Marketing + Timing + Luck = Maybe Successful
The thing is, there's no VP of Timing. There's also no VP of Luck. These factors are ignored because there's no one to champion them. Yet they are very real.
Unsuccessful Product !== Bad Product or Bad Marketing