Not in the rare cases when the company is owned by someone who cares about the product, who resists investor pressures. To some extent Larian, Valve and Nintendo manage it so far.
Decline through endless profit chasing only seems inevitable because profiteering investors are so thoroughly present in nearly every company.
That's why "to some extent". Nintendo does some unsavory moves, but I'm not sure the point of it is profiteering, especially when it comes to taking things out of sale.
But you can't deny that they put out games of consistent quality, and not overly monetized.