You are right yes, they did a fairly bad job with Might and Magic 9, and as a fan of the series I am disappointed. I am actually playing MM9 now, i couldn't before due to a lot of bugs in the game. Now it seems okay with all those fixes applied, though you can see that it's an unfinished game.
However, as you said the were a bunch of short-sighted suits. You may be right, they probably were, but they surely had talented people, because if they didn't then MM6-8 would not be such a great successes! MM6 is in my own humble opinion one of the most epic RPGs i ever played, and i did like 3 times already. When the game makes you want to come to it and replay it again, now that's a success. MM7 and MM8 were a little weaker than the sixth one, but still amazing games, i loved them.
As you mentioned, the fact that UbiSoft is taking MM 10 under its wings now is making me feel a little pessimistic and sceptical about the whole development of that game. I cannot but somehow feel that something is not going to be right with that game, i have watched the videos of the gameplay. I understand it's the pre-alpha version, so a lot of stuff is missing, but I agree that it will not have not even the half of the charm of the originals. I can see the effort in there to stick to the originals, that's for sure, but i am not entirely sure that it will reach up the knees of the originals.