I'm not saying you are wrong, simply that it's just not a big market and I don't think it will continue to be a market. At least not with the way phone manfs are going. With 16 gig phones being standard, and SD slots going away quickly games that are demanding like that are also incredibly beefy installs. Some of them are upwards of 2 gigs. It doesn't take long to fill up the limited storage size of a phone. Plus there's the whole argument of battery life and how much heavy gaming can chew through that.
Portable gaming for "hardcore" gamers is still done via dedicated portable consoles. If I want to game on a TV I'm just sticking to a console. I just really don't see mobile phones as they stand today as changing that. They will continue to cater to casual gamers because that is where the money is at and phone makers know it. It's no different than Apple not catering to the gaming market. It doesn't hurt their Macbook sales in any way.