It is, of course, mostly true. But the staff a studio needs, space it needs, equipment, assembly process - it all has been either at least hlaved or made outright obsolete.
Indie projects fail in any medium. It is a whole different thing when you're getting paid. Also bigger companies can outsource inbetweening to Asia for pennies.
I think there is a sever lack of good managers and solid talent that's willing to push the medium. Because for a skilled animator it's tedious, sure, but I doubt it's pain in the ass. It's a repetitive job like any other.