There are definite advantages to a solo-programmer project.
For starters, you can take shortcuts you couldn't take in a team, because there is a reason that you have all these coding styles and guidelines and templates and levels of abstraction and frameworks and all that other stuff, and the reason is "you are not the only person working on this project".
Well, if you are a lot of these constraints disappear. I love to write code with a low amount of abstraction, because yes, I understand its advantages, but if I need to hop through 20 levels of abstraction before I find the place where the actual (potentially buggy) calculation is being done, that's just a chore. In a team, where other people re-use your code, you want modular.
There are projects you can do alone. In fact, a lot of applications can perfectly well be written by one person with enough time. I've got probably a million lines of code in various projects that are all one-man projects or started out that way.
And frameworks make your job easier not more difficult. There is so much stuff in them that you don't have to re-invent or write yourself. I wrote one complex web-app using pure PHP and I don't want to ever do that again. With Symfony2 (my choice ATM) or whatever other framework you like, you can have a basic app running in one day.
What I find to be the problem more and more is not that you need more programmers. But that you need designers and graphics artists and UX experts to make a competitive software, application, website, etc. today.
Back in C64 times, you could draw a couple sprites yourself, even if you were not an artist. Yeah, they would not look as great, but it was good enough. Today, peoples standards are higher and while you can make a 12x21 pixel that looks similar to what a real artist might make, you will not do something that comes even close at 128x128.
So in summary: Absolutely, you can code a reasonably complex application with one programmer. Aside from a few edge cases it is really hard to create the whole application with everything as one person. Though in parts you can simply buy what you can't make yourself. Icons are not a problem to get for free or for money, for example.