They don't strike me as being money greedy individuals at all (at least not those actually involved in developing games at BGS). I think it's fairly obvious they love games and put a lot of effort into their work.
At the same time though, I don't really buy into the whole "we make the kind of games we want to play" comment. The themes of streamlining and accessibility have dominated their design direction far too much over recent years for such a statement to carry any weight.
This is about how I feel.
I'm sure a majority of the people at BGS who actually build these games, the people who do the coding, make the models, write the scripts, etc., put their utmost effort into their work, because they genuinely want these games to be fun to play, because they themselves love fun video games. RPGs in particular, I imagine. A lot of them probably don't agree with some of the creative decisions that have been made by the people who have the authority to make them, but they're in no position to challenge those decisions. So they just do the best job they can.
I don't let the people who make the big decisions off so lightly though. Todd Howard may be a genuine gamer, but his bosses only care about money, and if he wants to keep his job, he needs the games he's responsible for guiding into completion to outsell all previous ones. This undoubtedly motivates him to try to churn out more accessible games, whether he really wants to or not. I get the feeling he doesn't mind it, though.
I'm not against expanding ones fan base, I just disagree with streamlining being that necessary. The more you dilute your original niche idea, the closer you get to not expanding your fanbase, but simply, slowly, swapping one smaller demographic out for a larger one. I fear that ES is heading in the direction of being the games people play because they're the games to play. And it bothers me not just because that's completely not why I picked up Morrowind to begin with, but because it doesn't have to go down like that in order for BGS to be around ten years from now.