Yes. That's how art works.

Most musicians, including many bands that fill stadiums and go on world tours, pay the bills with regular full-time jobs and do all of their band stuff in their spare time. It's similar for artists, authors, etc.

A really good game takes years of hard work. It can take surprisingly little money; a small team driven by passion can be very efficient. But it does take effort. And sure, not everyone can be Tynan Sylvester or ConcernedApe or Pixel or Team Cherry; most tiny indie games aren't genre-shaping mega hits.

But they don't have to. There's plenty of small games out there that are just good and that's good enough. The idea of even just a hundred people playing one's game and being entertained is enticing enough for thousands of developers to sink hours and hours of their spare time into.

Will there be a bazillion lame asset flips in the future? Yes, just like there have always been lame derivative bands, shitty overhyped artists, terrible indie movies, and drivel-slinging hack authors.

Just like there have always been shitty AA and AAA games, for that matter. 90% of everything is crap. But that doesn't mean there aren't a lot of gems hiding in between all the chaff.

(And while I'm at it: While making a game does requires a lot of knowledge, that knowledge can be acquired along the way. The original Cave Story was a one-man project and Pixel certainly didn't start out as a professional programmer/artist/composer/screenplay author. Learning how to do all that is part of the fun for some people.)