20 seems awfully low. The future is making games without spending so much fucking money to do it. Reusing game engines, reusing level design and other content creation tools. That's why they can keep pumping out Assassins Creed games without them costing a bajillion dollars. They're like 20-30 million each, and I'm assuming Watch Dogs's new engine is what they're using for the next AC games for a while.
It seems like studios spend a lot of money reinventing the wheel when they don't have to. Bioshock Infinite costing 200 million is just poor management, that game could have been done for under 20 if they hadn't fucked around for 5 years trying to make it into an open world game when it worked fine as basically a linear FPS. It's like they couldn't decide if they were making a sandbox game or an rail shooter, or if they were making an FPS or an RPG...
200 million is like 8x what it cost to make Mass Effect 3 for what is basically the same game: a bunch of hallways and vistas with some loot in them and a lot of dialogue. Except Mass Effect 3 probably had 3-5x as much dialogue.
There's a good chance that Ken Levine is just incompetent at managing a large team and that the failure of Bioshock Infinite to make money is not indicative of any larger industry trends. I mean fuck, Skyrim reportedly cost 85 million for development + marketing combined. For 200 million there should have been a whole game inside every one of those god damn lighthouses at the end.