For me, this is a non-argument. Games are already taking risks and being innovative. I'm just not looking at the same games as the OP (and some others). So really...I can't vote on this one. I'm missing a "they already do", option.
To take an analogy...would you go to a movie forum and post something like "Should movies start taking risks?", arguing that all the large budget movies are about the world being at stake and huge explosions? No. Of course not. Because while most movie watchers know that while on a big budget movie you can expect to 'play it safe' and go for pure entertainment ("here are some famous stars! And some explosions! And a funny side character!"), you can just as well get a ticket for the movie next to it which is a completely different kind.
The same here. I recently played games like antichamber (brilliant game) or a virus named Tom (very hard, but very fun). They were not at all like the standard AAA-titles. And sure, there are some games that lack even a minimal story element (nightsky comes to mind) or controls (Eets munchies...I quit within 15 minutes), but they boldly go where no AAA-title dares going.
I know it's nice to have a familiar brand or franchise, but c'mon...this thread is like going to McDonalds and complaining that they serve hamburgers there that taste exactly like you would expect. Or that their try-outs are also fastfood.
Nothing's small anymore; everything's big. You can't go to the store and get a 8 oz. jar of peanut butter anymore: they've only got them in 32/40 oz. And if they don't have the creamy, oh well. At least they still have some. Honestly, I wish developers could release triple A games every two/three months, but that won't happen. But wouldn't it be nicer if they would just release 8 oz. jars of peanut butter to see how they sell? And not from somebody else? Can't the people who sell the 32/40 oz jars also sell the 8 oz jars? They've got the wherewithal.
Did you ever hear about this thing called "indie games"? The only reason some games are called AAA-games is because of the budget/resources allocated to it.
I'm also having trouble understanding what your analogy is about. the 8 oz. jar is smaller and thus cheaper, but has the same amount of quality put into it. And in games, providing that quality is actually the hardest thing. In other words: the costs are relatively the same to make a game with 8 levels as it is to make one with 40 levels. That, and that the 8 level game wouldn't sell because being too small, is why everything is big (at least in games).
Oh, and...as said, I'm not sure what you're saying here so I might be completely wrong, but...isn't a game like Super Luigi bros U an example of a small game? It's the smaller instance of that larger NSMBU game.