Being cinematic and trying to copy movies are 2 different things. I disagree that a cinematic game is inferior to a great movie, because the cinematic game doesn't have just that quality, it will have gameplay and story. Regardless of medium, a good story is a good story.
Furthermore, you seem to consider a cinematic game to be a game heavy into the cutscenes, while I consider it a game that knows how to frame a scene and transmit it's messages and subtext to the players in visual ways that are dinamic and emote. I heavily criticize MGS4 for being an almost interactive movie, it's IMO a bad example of cinematic.
I completely disagree with your assessment, a videogame can and does usually control the pacing, character development, and characterization, even a game like Mario does that to a limited extent. While you are correct that a videogame, by it's inherent interactivity, can wreak havoc with those elements, a finely crafted game will still be able to succeed in them - for example Deus Ex.
In fact, what you describe as the future of gaming already happened - it was called Deus Ex. You could pretty much do anything, even kill essential characters that had 20+ hours of gameplay "made" for them, in the first hour, and the game adapted and still went on with a fine narrative. You can have entirely different experiences depending on who you visit, which path you take, which character you develop and is built by the world.
While a game like Mario succeeds in a lot of ways, if absolutely fails in setting a good story, with worthwhile characters and narrative. It's merely a box for us to interact with a pre-made game world, while having zero impact in it. It doesn't give me anything back except for a fun, entertaining time.
Each media is different, movies adapted from books have great difficulty and vice versa, same as movies based on games and games based on movies. While gaming is in it's relative infancy compared to cinema or literature, i again reinforce the notion that merely making a fun experience, is not the way gaming needs to grow.