That's a terrible argument for, well, anything. "You don't like our faulty product that causes injury, it's not hard to simply not buy it."
It's not a terrible argument. Your example is outlandish and not remotely applicable. It's more like "well, you don't like our product, you can simply not purchase it." Trying to relate it to injury is silly.
Once again, this is ignoring the benefits of episodic gaming. One being that episodes are indeed released quicker. Before any argument can be made about episode 2 taking a while, it should be openly acknowledged that episode 1 was released. If they used a different model, episode 1 not only would not have been released, it wouldn't be released by the time episode 2 was ready and either by the time all the episodes were completed a single full scale product would either not yet be ready (due to integrating all features into the entire series) or be a distinctively inferior product (due to having no feedback or features that would have been integrated later in the cycle). Another being that even 2 years is often a short time for a game to be properly developed.
Television is a lot more stable an industry than gaming. The majority of games do not make a profit.
Personally, I think the biggest thing I have to disagree with you is your seeming perceptions of what is expected of a sequal. By such reasoning, KOTOR II wasn't a sequel (or maybe just a poor sequel). One of the big reasons gaming is in such a poor state is because of expectations like that. The thinking that everything has to be completely rebuilt from scratch. If you want to use TV analogies, they reuse actors, props, and sets across the entire length of a series and not just seasons. Movies will reuse actors, props, and sets from entire other movies.