I agree for the most part, but great games do fail even on the AAA side. See Psychonauts, Beyond Good & Evil, Okami... Critically acclaimed and loved by gamers, but commercial failures.
I'd guess it's more common in mobile and indie, but don't know for sure. I'd be really curious to see an in-depth analysis of it.
Also thanks for your comment, that's the reply I was hoping for. I think a lot of the reasons why and how games fail (commercially) have changed with things like social media and increased usage of stock game engines. Unfortunately most of the post mortems of failed (indie) games I've read are of rather bad games. This is what I've meant when I said I've never heard of a great failed game. The most vocal group are people with a bad game who feel like they're entitled to earn millions (rethoric hyperbole intended).
Okami was rereleased on a newer console at one point wasn't it? I think it probably did a little better.
But yeah, in general, I think that because AAA games cost so much to make and usually cost more to buy, they have to cater to the masses more in order to be successful, whereas indie game devs are more like startups.... lean and mean. So, they don't require the same level of sales to be a success, and they are also free to make more niche and obscure games.
I'd guess it's more common in mobile and indie, but don't know for sure. I'd be really curious to see an in-depth analysis of it.