The network effects of Draw Something's user base add immense value. Think FB vs. G+. If Zynga had made their own Pictionary game, it would have been a graveyard.
I'm not disputing that it is a wildly successful game. I am stating that a $200mm valuation of a single game is insane. I know the argument will be made that they bought the whole company, but this acquisition would not have happened if not for Draw Something.
Given the number of developers working on producing the next big hit in games, there will be a Words With Friends or Draw Something released on an ongoing basis. Why would Zynga get in the business of buying up these companies after the hits have been produced? Seems like a losing business model.
The value of the game to Zynga is higher than the value of the game on the open market, since Zynga can cross-promote their other games and also suck up a whole ton of personal information from the Draw Something userbase.
