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Of course it's not always about the budget, but rather how you use it. They could take 100 million and do Other M part two or they could take 10 million and create a game with gameplay comparable to Metroid Prime 1.

One thing I've also noticed is that over the years bigger budgets have come to mean bigger teams and studios. But larger studios actually don't always produce better games - in fact I believe smaller studios are better as they allow for more collaboration and involvement between the team members. With a large studio, there might be a programmer responsible for a few class definitions and methods, who (consequently) only interacts with who he/she needs to. In a smaller team, that same programmer could be responsible for vast swathes of the game, perhaps heading a certain area like UI or something.

There's much more involvement in that.