I think Rubin has a very hard job ahead of him. They want to compete with the juggernauts, but they don't can't compete on any front whether it be developement budget, marketing or IP. The industry continues to push out the 'mid-tier' developer as the race to the top heightens, and unfortunately I think THQ are positioned perfectly to fall like many other 'mid-tier' developers have this gen. The digital side of thing is growing, PSN, XBLA, Steam etc, but again I'm not sure THQ has the IP to really make much money there.
I think it just depends on time - if you budget correctly, have a clear strategy and make games that although arn't competiting with the CODs and AC, but are still relevent you can be very successful. What Square-Enix have done with the EIDOS studio's is the model THQ have to follow, and it's been very successful. I don't think THQ have the time unfortunately, but it's hard to judge how far gone the company is. It seems like they're launching only one game a year now, which is a pretty disastrous sign.
Darksiders II looks like it's going to be a beast of a game though - I loved the first and it looks like they've just made it better in every way. The first did pretty well for a new IP, and after used sales and trying to give the original out through 10 different promotions it's probably a pretty well known game now. Provided the reviews go smooth I think Darksiders II is poised to sell great - however for a company in THQ 's position, 'great' can often not be good enough. I could easily see it selling say, 3m, and THQ still posting losses by the end of the year.
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