
Most of them were awful, and tended to be made by mediocre companies like Acclaim, Activision, and EA. Spider-Man was made by Sony, which relies on a reputation for quality to sell the PlayStation, especially with Nintendo stronger than ever and Microsoft trying to brute-strength the video game war with its checkbook. Game companies have also come to understand that people don't want to simply play a movie's storyline in a game. They can just watch the movie if they want the story. GoldenEye didn't follow the plot of the movie rigidly and focused more on gameplay, as a result, the game is arguably more successful and better-known than the movie that it was based on.
For a long time, almost all legacy media had their own studios or bought into the industry. Warner sold off Atari after the crash through their purchase of Midway's IP, they own the IP of Atari Games, the arcade division which was split off when the home division was bought by the Tramiel family and later bought by Midway. Other than the wildly successful Mortal Kombat, they don't seem interested in any of the video game IP they bought, which includes legacy franchises like Joust, Defender, Gauntlet, Rampage, Paperboy, and Tapper. Warner has had limited success at leveraging DC, most of that with Batman. Warner also gave up the license to Lord of the Rings, which is now owned by the rather dubious Swedish conglomerate Embracer. Disney tried at multiple times to break into the industry only to be rebuffed. They stopped making Infinity early on and go through third parties now, and prefer to sell to little kids with iPads and iPhones. MGM, Viacom and Universal had their own home divisions at one time, now gone. Many of the games produced by these companies were part of the "interactive movie" craze of the mid 90s that fizzled out. Lucasfilm, seeing the video game industry as a natural medium for an special-effects laden sci-fi action IP like Star Wars, entered early on, but they developed a lot of original IP like their adventure games and early first-person games like Rescue on Fractalus and BallBlazer. They're gone now, victims of declining sales and the Disney buyout. Star Wars games are made by third parties.
One factor that may play into this is that a lot of video game companies actually outgrew legacy media companies. Even Nintendo could buy its own major movie studio, albeit at great risk. They're worth more than WB Discovery and Paramount are. They could afford to buy Mortal Kombat, Bugs Bunny, and Batman. They could probably buy a sizable stake in Universal Studios from Comcast if they were so inclined to cement Universal as a Nintendo movie studio after the Super Mario Movie. Now, movies that tie into video games are made. Warner Bros had more success leveraging Rampage, a long-dormant video game IP, into a movie than they've had trying to make their movies into video games. And that's not even going into the mammoth budgets sported like companies like Microsoft and Tencent.
Setting that aside, with few exceptions, I don't care for licensed games. I'd rather play actual video game IP. I'd rather play Mario or Zelda than Spider-Man or Lord of the Rings. I'd rather play Fire Emblem or Final Fantasy than Game of Thrones. Metroid is a better Alien game than any of the actual licened Alien games. No Man's Sky and Starflight (in the 1980s) captured the spirit of Star Trek perfectly in gaming without being tied to the license. The best 2600 game ever made, Solaris, started out as a tie-in to The Last Starfighter. Untethering it from the license helped make it into a game that could hold its own against a lot of NES games. Licensed games are a trend that I'm glad to see going away, especially when the SNES/Genesis, PS2, and PS3/Xbox were so glutted with them.
I will say that I do enjoy video game based TV and movies, however, and I hope to see Legend of Zelda, Metroid, and Fire Emblem movies in the future.
There are exceptions to licensed games for me as well. I loved Konami's licensed arcade games (TMNT, Simpsons, X-Men, Aliens). I even bought the Cowabunga Collection and Shredder's Revenge last year and would buy The Simpsons Arcade Game in a heartbeat. I enjoyed Bugs Bunny Crazy Castle. And I even had Judge Dredd for SNES, and it was fine. It just didn't get as much play time as Super Metroid or Donkey Kong Country.