I worked at EA for years and have worked at other AAA studios, I've seen the big companies from the inside and know pretty well how they work, what they do well and what they don't.
Sure, EA continues to exist because it has more hits than misses (and is helped in that regard by huge, reliable annual franchises like FIFA) but I've seen plenty of projects with relatively low expectations become huge hits (like the original need for speed underground) as well as titles with high expectations crash and burn (I won't name names). The big companies do a good enough job to be fairly consistently profitable but they by no means have a foolproof formula for success. Show me a famous studio without titles that didn't meet expectations.
Sure, EA continues to exist because it has more hits than misses (and is helped in that regard by huge, reliable annual franchises like FIFA) but I've seen plenty of projects with relatively low expectations become huge hits (like the original need for speed underground) as well as titles with high expectations crash and burn (I won't name names). The big companies do a good enough job to be fairly consistently profitable but they by no means have a foolproof formula for success. Show me a famous studio without titles that didn't meet expectations.