How good of a product do you suppose your favourite developer would produce if they were given a strict 9 month timeline and a $1 Million budget and told to produce a fully-featured Mario Galaxy clone with the Sponge-Bob IP?
Probably not a very good game at all ... In fact few developers would be able to complete the project on time and budget and most would void their contract. Believe it or not this is the kind of environment that most "Bad" games are developed in.
Now, I'm certain many people will not agree with me but I suspect that High Voltage's long life in this type of environment (and being able to get into a financial position to fully fund their own development) implies that they're a well run company. Realistically, they do face a pretty steep curve in trying to move up to a more complicated and higher profile game like The Conduit but I don't think this is any worse than the difficulties that many developers faced when they moved up to HD console development.
Could The Conduit suck? Yes, but I'm going to give High Voltage the benefit of the doubt until I know more about it.
Do I think The Conduit will be game of the year material? Not really, but I wouldn't be surprised to see it have an aggregate review score between 75% and 85% on Gamerankings and Metacritic.