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Developers would love to make book-based games. It gives you pretty much everything in a nice box, lets you be creative within limits and with certain assurances if you stick within expectation/abstraction. Over ambitious creativity often costs a lot of time and money - developers have neither.
The real problem comes in with finances; developers are essentially rather poor in the grand scheme of things,the ones that have money have passed success that is normally tied up by publishers, ditching the publisher and going it alone is extremely risky and with the track record you have, its easier to just keep on churning old IP.
Until some 'book' publishers (and not those huge full spectrum guys) want to get serious and get talented developers and muscle their way into the market, it's something that you're just not going to see as there's no large passed success stories outside of Harry Potter. In the mid 90's book-based games were far more common as the pace of games was also more moderate and gamers did not follow such narrow social trends (which have pretty much killed 'good' games :/).
On the other hand, a lot of newer 'AAA' games are releasing novels based on the IP around release cycles - quality is somewhat turbulent.
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