Indeed, the slower approach you describe here is where real engineering could be very useful, albeit slower, and investors don't like slower. We're living in an ever increasing atmosphere of short attention-span, microwave oven addicts. This is where the balance I spoke of earlier comes into play.
It is also important to realize how important a factor time is. If you wait for a product to reach perfection in its' evolution before you release it to production, it may never be adopted b/c someone else gets to the market sooner.