Funnily enough, I've worked for some of the biggest organisations, some mid-sized ones, and some tiny projects, and I've actually enjoyed the larger environments more. I enjoyed the shenanigans, the politics, the birthdays, the leaving parties, and the sports leagues. The best of them were like high school, only better. I find myself going a bit loopy in a small environment.
I do think there is a fundamental difference in culture between a large corporate, and a smaller company. Quite often, a smaller company is dominated by a founder who lives to do the thing he does, and turning a profit is a necessity, but not his dominant driver. In corporates, there tends to be different characters at the top, who are often quite alien to the business at hand. The CEO knows that he lives or dies by fairly short term results, and this affects the thinking.
That said, there are exceptions. Someone like Steve Jobs was perhaps a bit closer to that smaller boss, who loves what he does, is obsessed by a vision, and ate his own dogfood. Also, some studios, like Naughty Dog, have talked about how they are given a budget and a remarkably free hand, because Sony have simply realised that, left to their own devices, they will deliver.
So, I think it's a bit of a false dichotomy, as no studio really occupies either extreme in terms of profit vs genuine enthusiasm.