You could to a point make the same argument about Madden not be relevant since the PS2 days. Every installment on the PS3 felt like a step back and it was because they kept trying to re-invent the wheel.
We will never know how it would've worked out for them on the 360/PS3 since their wasn't competition but I don't think you can truly write off the fact that the most highly regarded Madden was 2005 and just by coincidence they had competition that year.