Then you import your own assets coupled with the scripts
[...]
how much crap it is when the industry says that it takes millions of dollars to make a game.
How much do you think it will cost you to get "your own assets" and have all of the scripts written for a game of AAA quality? AAA games employ a lot of artists to create all of those assets at such a level of quality within a reasonable period of time, and depending what you need scripting may need a few people for quite some time as well. Unless you're outsourcing overseas there are minimum wages that need to be paid, employee benefits that must be provided, etc. Some of these still might apply to outsourcing. If you want quality talent on your team you may need to pay more than the legally required minimums.
//EDIT: Check Gamasutra's 2014 Salary Survey [pdf] for an idea of how much staff can cost.
Will you run the game through a quality control process similar to that typically used for AAA games? Q&A can be a lengthy process for AAA games, and you either need to employ quite a few people or pay to outsource this.
How about marketing? Those multi-million dollar budgets for AAA games include a large portion for marketing as well.
Are you planning to target consoles? It (usually) isn't free to become a licensed developer for consoles.
Will your game use any existing intellectual property? Unless it's all original, you'll need to pay licencing fees for the IP as well.
How about legal services? You'll need a lawyer to provide appropriate employment contracts, assignments of rights, etc. and to look over agreements with any closed platforms (such as consoles) you wish to distribute on.
Want to get your game physically boxed and in stores? This costs an absolute fortune, especially if you want decent placement in stores.
Don't forget the costs of running a business (business registration, copyright and trademark registration, rent, utilities, etc.) and taxes. You might need to hire another person or people to handle this stuff for you, and that's more staff to be paid on top of these costs.
You can absolutely make a game for significantly lower costs, but unless you're going to cut a lot of corners and take a lot of cost-cutting measures you probably can't produce a game of AAA quality with all of the same quality-control, marketing, distribution, etc.