Game devs back then didn't really have a good way to collate demographic info and explanations for why people liked their games. So 4x, explore, expand, etc etc was a good way to market themselves as a genre and as well to publishers.
But I think given modern day communication between consumers and producers, cutting out a lot of the middlemen or middle ware, has made that "formulaic model" very obsolete. So far, AAA+ games still keep using it though.
These days, the lack of tools for "analyzing" the sheer mass of user input feedback and data is what tends to overwhelm the ability to extract useful conclusions for development. The CSM, Council of Stellar Management, is used by Eve Online's CCP to do the analysis and data crunching.