Based off of what I've seen working with my current employer for over year, I wouldn't want to publish anything in the F2P market even if you paid me to. Why? Hmm, ok, where to start.
The companies outside the US are fucking impossible to work with. I won't call them scum, because I would do the same in their place, but sometimes we all want to just wring their fucking necks. Why? Because they simple don't care about you. When you agree to publish a game, THEY retain all rights to the game (including source code and art), and if you want any new features to the game / backend, it will take from months to years to develop. Why? Because like you said, they are devoted to churning out low quality titles as fast as possible. It is their lifeblood. If you're a stupid new publisher that has no idea about what's going on, you will agree to publish the game without any clause in the publishing contract that says that they must maintain the game. They will pass off the game to you for a quick buck, and cease any maintenance on it. Now, lets assume that you had it all worked out in your contract on how many content updates they would do per year, what kind of bugfixing they would be responsible for, etc etc... everything that goes into maintaining a game after it is released. Then they will work at an insanely slow pace. Deadlines will be missed by months... then years. Your userbase will grow frustrated and abandon your game, and your game will eventually fade away to oblivion.
Now lets say you had a maintenance clause in the contract and the company wasn't abiding buy it, and you want to enforce the terms of the contract. That would mean lawsuits. International lawsuits. Lots of money involved. You win? And then what?
Ok, lawsuits are messy. Maybe you will threaten to terminate the contract. Guess what? They don't need to work with you. There are 50 million F2P publishers out there, with more popping up all the time. The developers choose who publishes them, and not the other way around. And trust me, there are a lot of shitty publishers out there who are willing to pick up your shitty game with shitty maintenance and push it at shitty margins to their shitty third world markets. Its cutthroat.
See what I'm getting at here? Development is like 10% of the cost, the rest is all about maintenance. If you fall behind on maintenance, the game will become boring and unpopular, and will finally disappear. If you don't add new content, the same will happen. And you can't add content or maintain the game because the developers simply can't be bothered. End of story.
Now a couple of quick headaches from the security front, shit I have to deal with every day, and shit YOU will have to deal with if your game gets popular enough.
#1 Russian DDOS blackmail crews. If you are a browser game, they will DDOS your site. If you are a MMO game, they will reverse engineer your login and build it into their botnet, then start sending an infinite amount of login requests until your server goes down. Then, they will contact you and demand a weekly payment to stop their DDOSing. And what do you do? Pay them? Then 5 other crews will start DDOSing you in hopes of getting a share of the ransom. Hire security consultants like me? (I don't do network security, this is just a scenario I hear about all the time from other consultants) Expensive as fuck. And no guarantee of working. Hire a antiDDOS service? They're ineffectual. Good luck finding one that works. Go to the FBI? lol, they don't have time and try to appear like they care, but they really don't. Local law enforcement? In Russia? lol.
Scenario #2: Hackers
F2P games attract hackers from all over the world. You can't IP ban them because it seems like every fucking third world ISP has dynamic IP addresses. What do these hackers do? Wallhacks, teleport hacks, item duping, speed hacks, aimbot... you name it, I've seen it. They reverse engineer your client and hack it in ways you wouldn't think possible. Then they proceed to wreck havoc upon your legit users who are just trying to enjoy the game. Users will get frustrated and leave your game. Your game dies and fades away into oblivion. Again, what can you do against this? Hire consultants like me? Again, expensive. And then, what can we really do? We need to have access to the source code to patch the game against hacks, and yet the developers won't part with the source code. So in the end, I end up going in at machine code level and patching the executable of the game by hand, just because the dumbass devs are too lazy to do it themselves. This takes a lot of time. And I get paid by the hour. Ok, you don't want to hire consultants. You go with a third party game security solution like Gameguard. Have fun with that, lol. Almost all those major antihacks have public tutorials on how to bypass them. They update about once every 2 years, and are cracked the day after they update. They literally aren't worth the time it takes to implement them.
Scenario #3: Item dupers/frauders.
So lets assume you have a F2P MMO. How are you going to make money? Selling items, land, game gold, whatever, right? Well, bad news. These games are coded like shit. The developers never had security in mind. All the hackers I was ranting about in the previous paragraph are going to come out and duplicate whatever you are selling for FREE. They will duplicate premium items for free. They will duplicate gold for free. They will even unlock GM features and post hacks doing it for free. And how are you supposed to stop them? Again, the developers SIMPLY DON'T GIVE A FUCK. You're going to have hackers running around with premium items in front of GMs, and the GMs won't even be able to kick them because the hackers will have patched the kick feature in the game client. Once again, your user base will become frustrated and leave. Those who don't leave will never pay for anything in your game, because they can get the same premium shit for free just googling "name of game hacks".
As for the frauders: Pretty much, you will have people buying premium items with stolen credit cards. They will then quickly resell the items to someone on ebay or whatever for less then what you are selling the items for, and then they will disappear with that user's money. You find out with was a frauded item and cancel it a couple of days later. Legit user who bought the item comes crying to you. What do you do?
And that's all the shit I can think of off the top of my head. There's a lot more shit going around but I'm too lazy to type it out. These megaparagraphs I typed out above are just a drop in the bucket. F2P games are a fucking nightmare. I am more than happy to take my consulting pay, but god forbid that I ever get involved with that industry.
That is all.