Yeah, I guess that's my main problem with the industry. The whole "everyone else is setting budget records chasing COD, let's do it too" hive mindset. It doesn't even make good business sense. I still think that there is a market for this kind of experience, even within well established IPs. Look at the recent Castlevania and Batman titles for 3DS. With a little more polish, resources, and development time, those titles could have been big sellers on modern consoles. So maybe that won't happen on XBox and PS, but that could be a way back to respectability for Wii U. One hypothetical example: Nintendo could money hat Konami to make Contra 5 a Wii U exclusive with a 15 hour campaign, online co-op, and launch with a proper advertising campaign. Then make sure there's a title like that in the pipeline every month in addition to your Marios and Raymans of the world. Bring it back to the 80s when Mario and Simon Belmont sat side-by-side on the same retail shelf and were both highly successful. For the same reason 30 million people bought NSMB Wii, millions would get a New Castlevania or New Mega Man: nostalgia.
Why would Contra V need to have a 15 hour campaign when you can play through the other games in the series in about 30 minutes?
While Castlevania and Metroid are longer games due to exploration or slower combat, Contra is a one-hit-kill arcadey game with snappy combat that doesn't need bloated cut scenes and tutorials and side quests and collectable rubbish to pad out the run time the way some 3D games do. I agree that online co-op (as well as local) would be a good addition, but running time isn't any indication of quality. Contra games are awesome because you want to replay them again and again and you always have time for a quick go so you get better at it. Most modern 3D games I never play more than once but I go back to Contra/Probotector all the time.