Blizzard became the home of mediocity

They fired Metzen (Warcraft's designer) and Brevik (Diablo's designer), and have records low salaries, so only students would work for them:
https://www.youtube.com/watch?v=SrKDgDlbsS8

that is why they are remaking old games, instead of creating something totally new.

To be fair, there are plenty of software developers in California who live in areas that are too expensive for them. It's not specific to the games industry. There are also web or app developers who get paid in stock options (usually worthless) who hope that their app or website will become the next big thing (and they almost never do).