Sequels have one really big advantage over original IPs. They're pretty much going to print a company money. IPs don't have that advantage. Until a majority of the shareholders at a company become gamers, then sequels will become more the norm, as cash flow is important.
Smaller companies will do more work with original smaller IPs, because that's a different market. Indy style games are going to become the norm with IPs. The lower cost is going to make them easier to make, and more desirable to make. Why spend 40 million dollars on a brand new IP that might not succeed at 60 bucks a sale(which becomes 12 bucks per game in the end), when you can make one for much less and sell it for much less.
Everyone sees the sales of games like Call of Duty and Madden as the norm for titles of their ilk, when they're more the exception than the rule. I'm surprised that I don't see more small scale titles slapped onto XBLA, Steam, and PSN as original IPs. If those do well, then the sequels will probably be made closer to AAA titles. That might work better than just trying to make a AAA title from nothing, and losing a lot more cash if it fails.