It worked for Minecraft.
It was rough at first, and needed plenty of tuning, but the terrain and environments it's capable of certainly have a wide audience.
But as far as pure, unbridled generation goes, yeah; I'm sure there will be plenty of slop made in the coming decade.
The terrain generation is not the appeal of Minecraft, it’s the game system that lets people level that terrain into a canvas and then build their own stuff on top.