Going back to Gabe Newell's points, it's high time to get into the gameplay-focused budget DD-only games. The graphics aren't really a problem any more, you can make good looking, but not graphics-dependent games with decent art direction(and no, it doesn't have to be kiddy/cartoony). 
  
The AAA market is giant money hole that shreds all but the very best marketed/polished games. 
  
EDIT: I guess the problem is the lack of mid-level publishers and a general lack of capital