Iterative Development in Gaming

I'd be careful about reading too much into Minecraft's success with iterative development.

Here's the simple truth: Many (most?) big-budget games are meant to be played only once or twice. If it's not 100% ready to go when first launched, nobody will stick around to see it finished. Minimum viable product is hard to apply here. (This also partly explains why there aren't very many good FOSS games.)