News: ex-Avalanche Studios developer Axel Lindburg has said that the definition of a AAA game is “highly subjective”, which leads to problems in differing aims and expectations during development. (Arrowhead Studios, Avalanche Studios, Dev, Industry, Just Cause 2, PC, PS3, Renegade Ops, Sega, Wii, Xbox 360)
Homefront was a AAA game, but it wasn't that good.
Too Human wasn't AAA because despite the high production values, the gameplay was lacking.