It depends.
It's possible to make a game that most people like. Your approach can get something like this.
It's impossible to make a game that most people love. I imagine any ultimate game needs to reach this goal, but because of differing tastes, it is out of reach. To use XIV, lots of people love this game, but more people only like it. Using myself as an example, I love it, but the abuse of veteran healers threatens that, which came about due to attempts to cast a wider net.

It is much more possible to have a many "ultimate games" each serving a small community, but MMO logistics make that impossible; scale is the name of the game.