No, it is not an assumption to know you can't redraw every texture and character in a game of that scale in the time you assume. That's simply not how game development works.
You think the PS2 version of RE4 took nine months just to make the extras? They still had to redo the entire set of graphics. Of course it was easier to make the game work, but this game still took more effort than you want to admit.
It could have been given not enough time and money for a quick buck. But that is not the definition of shovelware. No matter how much you insist this took almost no effort, that will not make it so.
A flashy-first game is awesome when it comes out. A great-first game is awesome forever.
Plus, just for the hell of it: Kelly Brook at the 2008 BAFTAs
