I couldn't agree more. These (mostly) fully designed endeavors have ruined Encores by giving the illusion that they're finished productions when the short rehearsal periods predictably reveal otherwise, often scattered performances, resulting in a deathly uneven balance. Of course, there have been exceptions, but not many.
I would also imagine that these overblown productions have scared off bigger names, directors and actors and designers, who are justly intimidated by the highly unreasonable expectations. Not to mention the extreme waste of money for a handful of performances.