More than possible, it’s probable. Depends on the project, though. There are a couple of different issues here, and I’ll cover them in order.
First of all, when thinking about big-budget productions, like network TV and Hollywood movies, remember that a big part of the revenue stream these days is foreign. In most countries, dialogue is dubbed rather than subtitled (there are exceptions). It’s a whole lot easier to recreate the professional soundtrack if most of it is fake to begin with: the gunshots, footsteps, car doors, room hum (there’s a technical term for you), crowd noise, and everything else are on separate tracks, and the dialogue is all by itself on its own stereo track. If all the background is fabricated separately, it’s an easy matter to just swap out the dialogue and retain the rich, professional overall sound. So from that standpoint, it’s actually more practical in the long run to go to the trouble of making up 90-95% of the soundtrack after wrapping on the set.
Note also that in certain production situations, it’s absolutely necessary to dub the soundtrack later. For example, consider a scene in a nightclub, with music playing in the background, or a scene in a stadium, with thousands of cheering sports fans. In both of these cases (and in similar situations), it’s a hell of a lot easier to keep the background as quiet as possible while filming the foreground action and recording that dialogue, than it is to try to match up a highly variable background sound later during editing. With the nightclub scene, if you have people dancing to the music, you’ve probably got a production assistant on a ladder just off camera listening to music on headphones (when possible, the actual tune to be used later), and waving a baton or tapping it on the ladder to set up the rhythm, so the crowd is in sync. And in the stadium, you ask the extras in the crowd to jump up and down and wave their arms in complete silence for certain shots. Otherwise, it’s next to impossible to capture a clean recording of the foreground dialogue, and (especially for music) it would be a nightmare to get the song to match across all of the various cuts. In those cases, and in similar situations, it’s almost a requirement that the filmmakers plan to manufacture the soundtrack later.
However, this isn’t possible or practical in all circumstances. Consider location shooting, where you’ve got highway noise or a waterfall or whatever. (This was a huge problem on the set of Medicine Man, shot in the rain forest. They were constantly fighting the loud buzzing of resident insects.) In those cases, you might have to re-record even the dialogue later (it’s called “looping”), in which case 100% of the soundtrack would be faked after-the-fact. To avoid interference, in fact, when you have scenes in a moving car, often the car with the actors in it has its engine off and is being towed, so the engine noise doesn’t creep onto the recording. It is, naturally, dubbed later by an effects person.
Low-budget movies, though, don’t often have this luxury. That’s one of the reasons a low-budget film “feels” cheap, even though you can’t put your finger directly on it: because you aren’t hearing footsteps, doorknobs, and everything else the way you’re used to it. Or the voices are recorded simultaneously with everything else, meaning you get a lot of echo in the room, and the various “live” sounds (clinking ice, squeaking chairs, rustling clothes) occasionally interfere with the dialogue.
This is sometimes the case on TV, also, especially with sitcoms filmed before a live audience. There are a lot more microphones all over the set for those shows, and the sound engineers are constantly balancing and twiddling to make sure cabinets, light switches, and whatnot are correctly tuned in relation to the dialogue. Even so, often, all of this is captured on separate tracks (the actors wear body mikes to isolate their dialogue as much as possible) for foreign re-working, and there’s still some post-production tweaking.
So yeah, with a few exceptions and context-specific modifications, the idea that 10% of what you hear in a movie or a TV show was actually recorded on-site isn’t that far off at all. I would rephrase the original question, in that 90% of the original recording isn’t scrapped – it’s more that of the final product, 90% didn’t happen live. In fact, I’d actually put the number higher for most Hollywood movies.
Hope this helps.