That is an ideal way of seeing this. As a for-profit company their priority is shareholder value, so the focus isn't "people paid and games were made", it's the money left-over, and even more importantly that the number must grow.
It's a question of "value created" vs "value captured". They captured about as much value as the risk-free rate of return.
Value that is created but not captured (e.g. the value of consumers enjoying games and consoles above and beyond the price that those consumers paid) is typically not considered when making business decisions.
No, because the customers bought the games. That means the customers valued the games at some value higher than the purchase price. There's a ton of surplus value for society produced as part of this process that doesn't end up on a company's balance sheet.
That's pretty accurate when you consider the unfiltered slop produced by studios like Bethesda, Blizzard, Activision, King and most other Microsoft XBox studios.