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Yeah, MS can pay for a week's worth of people picking up a game of choice, but any longer than that and the complications of royalties and such would become much too difficult to navigate. Basically, MS would be paying every retailer to pay for a free game everytime anyone bought a console. Just plugging in certain games, as with the name your game bundle, is much easier, and likely much cheaper, as I'm sure the publisher and MS (or Sony, or Nintendo) come to an agreement that is good for both sides. 

 

Funny story, the Walmart closest to me still has the BO3 bundle marked at $349 and the Uncharted LE at $369. I swear its trying to take over for the Kmarts that went under in my area.