The internet is decades old now. I'm going to accept the premise that things were "ok" (which is highly debatable) back in the "good ol' days" and thus we should be fine with them returning. We have tons of trouble nowadays with preorders and cryptic season passes and manipulative DLC and microtransactions, and that's WITH the full force of the internet and word of mouth behind most things.
We have tons of trouble in a world that the most transparent we've been able to manage, and you're still looking to the 90s with rose tinted glasses?
And you keep acting like people who want to buy a product on day 1 are some kind of rabid obsessive consumer which is incredibly disingenuous. People make plans for when things release and generally like to stick to those plans. People get excited for things and experience anticipation. I don't buy EVERY game I buy or even MOST of the games I buy Day 1 or at $60, but that doesn't mean the choice should be taken away from people or that they should be charged more for the same.
This is, to me, something sort of akin to the online gaming-gambling communities.
Companies aren't creating additional content, they're just finding ways to monetize harder and harder, and it's already the largest single entertainment industry.
The companies that are large enough to risk the poor optics of trying something like this are the same companies that have no need of additional lining in their pockets.
It's pure greed betting on consumer's impulsiveness and financial illiteracy.