What is, in your opinion, the best style of video game development?

Tthere is no denying that game studios these days have very separate approaches to game development, marketing and release. For instance, we have a studio like Ubisoft Montreal that has been on a yearly (or close to) release cycle for most of its recent history. And the games they've produced were arguably very good; sometimes iterating, not always innovating but in general entertaining. Then again, we have studios like Mojang AB that choose one game and try to keep it as fresh as possible by changing it up and adding as many features as possible with updates instead of releasing sequels. On the other hand we have a studio like Valve that really don't give a damn about things like Release Dates, customer expectations and, well, hyping their games up in general. And yet, even without these elements that most other studios would have you believe are crucial to the process, Valve have one of the highest average Metacritic ratings and are more profitable per employee than even Microsoft or Google. However, this leads to certain projects never quite reaching ideal expectations and spending 7 years in limbo, if you know what I mean.

My question to you is, what do you think is the best approach to game development management? Would you rather have one game that continually betters itself? Or do you prefer the "we'll release it when it's ready" approach, or are you a fan of the tried-and-tested "pick a release date and get the job done" way of thinking?