IMO, the problem is with the whole of the industry, starting with merchandising, promotion, and the gaming media.
Games are currently announced to the media when there's still generally one or two years left in development. The gaming press, as it currently stands, is ENTIRELY devoted to upcoming games. Think about it:
"Ultimate Game 2 announced for next year!!!!"
"Ultimate Game 2 first look!!!!"
"UG2 behind-the-scenes report!!!"
"UG2 getting closer!!!!!!"
"UG2 DELAYED!!!!"
"UG2 released next month... full preview!!!!!"
"UG2 out NEXT WEEK!!!! FULL character trait / upgrade list inside!!!!!"
"UG2 out TODAY!!!! Our full review/walkthrough!!!!"
Day after release: "(UG2 news moved to Archives)"
Problem is, this "what's next" mentality feeds into game publishers' desire to get a product on the shelves, no matter whether its finished or not. This generally leaves the programmers with more compromises then they would normally be willing to make.
Funny thing is, Civ4:Col was announced pretty late, about 6 months before release, IIRC. Now, I DO NOT agree with most of the posts decrying the game as "horribly broken", and I believe Firaxis will patch up most of the major issues, and the game as it is is quite fun, IMO. Generally, though, it's extremely rare to see a problem-free release on day 1.
My main complaint is that the gaming media is all screwed up. I have often been frustrated that after I buy the new whizbang big-name game right after release, the only forthcoming articles by the gaming media about it tend to be reviews and strategy guides. There's no "3 months after UG2's release - a look at the game's internet culture" articles - the game's already "happened", the journalists have moved on to next year's big release. Any articles about already-released games tend to be one-off op-ed pieces - and these are always my favorite articles.
/rant