Topic is a bit all over the place, imo, as transcodes, ports, hacks, original coding and entirely original productions made specifically for the neo geo are completely different things, - and so are making one such project for the hell of it, or for profit, as an "independant studio" or "a homebrew".
Common point though is that the system is still a bitch to work with. So if you're doing this fun, it's not going to be everybody's definition of fun. And if you're doing it for actual business, it's going to equal extra development costs. To such extent that even bringing existing assets to the neo geo (the BB way) is not guaranteed to be viable.
If you add that to the expense of producing assets (or purchasing an existing licence from people who'd rather keep it, and possibly have you work for them for a pitance), the neo geo is definitely not the right platform for "shovelware". Especially as you either have to spend extra $$$ to either protect your software, or make a physical product excellent enough to ensure potential buyers will prefer your expensive edition to the cheap bootlegs that will be circulating in no time - because when you're making a small volume / high margin game, you'll be attracting plenty of bootleggers, and every single one of them will mean a big loss for you.
So if you what you expect from a modern production is a game on par with what one of the top Japanese arcade publishers made for their own system at the height of their glory days... I doubt you'll ever have it. And yeah, if that is your standard, you can call homebrews shit - but saying they're easy cash grabs...
That, you should reconsider