Top-down design vs Bottom-up design

Quoting from gamasutra’s article on Flash Game Summit’s conclusion, there is an interesting paragraph :

“Top-down design (starting with the overall idea, then fleshing out the basic mechanics later) is tremendously difficult for Flash games because it means you’re basically forfeiting your greatest asset and trying to compete with consoles, which your players likely already have sitting in their living room. It is demeaning and inaccurate to say that Flash games are merely the poor man’s console games; many players actually prefer Flash games because they can get a new and interesting experience as often as they want. Plus, graphics and production values don’t automatically equate to fun. (Even if players don’t prefer Flash games over consoles, they’ll still often play both.) But don’t pretend that your players don’t have Mario Galaxy and Halo 3 sitting 10 feet away. You can entertain and addict them, but you will probably not impress them. “

I think, it’s really important for flash game developers ( including me ) to follow this rule.