So, I'm about twenty hours into MH Generations Ultimate, and loving it. IMO it is better than World, because it is so much more complex. 

• You have to choose between light and heavy versions of the same armor set. Light versions offer more skills and elemental defense. 
• You have to choose a fighting style. This determines what moves you can do with your weapon. 
• You have to choose your Arts. Arts are special moves that you can do after building a meter.
• You have to choose whether to make your Arts SP arts or normal arts. SP Arts buff your team, but cost more meter.
• You are given a hefty choice of decoration options from early on. World makes you wait until halfway through the game for many decorations.
• Way more monsters. Way, way, way, more monsters!
• An Aerial style to help make mounting monsters easier. 
• GreatSwords aren't nearly as slow in this game.
• A ton of weapons. There are three starting weapons per weapon choice. They branch out from there. World only has two starting choices per weapon style.
• No, boring monotonous story missions. I'm looking at you VolcanoBossGuy.
• Palicos have way more skills. Building a Palico is just as complicated as building your hunter.
• Being able to use your Palico as a playable character when hunting. Yeah, you can run around as a cat in Prowler mode!
• More environments. Like, four times more! 

As a player of the series since the original, MHW has quality of life changes that make the game play much more smoothly but Generations has far more content and approaches in the class system employed. World's QOL and Gen's content and system is what they should focus on for the upcoming games.

As good as each other as a result.

Your annoyances are not the same as mine.
"But World has some things that are really freaking annoying such as...

    Monsters that go through lengthy attack patters where the players just have to sit and wait for the monster to end its attack pattern. This is non-interactive and annoying. Not really a bad thing
    Monsters won't stop flying. Monsters are always in the air, and even with flashbugs they fly so much that you mostly just wait around for them to land. Not really, the flying monsters are usually the most easy due to flashbugs. Non flying monsters like Behemoth or Extreme Behemoth on the other hand are more annoying.
    Sonic Grenades are useless unless fighting one specific monster. How is this annoying, and they do have minor use on other monsters.
    Ridiculous hitboxes that make zero sense. Every Monster Hunter game has ridiculous hitboxes imo.
    Taking damage and flinching if a monster so much as pokes you with its pinky finger. All monster actions are attacks. Even walking! One point in flinch free and health regen ftw, these attacks don't matter much.
    No Gems until halfway through the game. This is just annoying. I want my earplugs now, not 40 hours in! Yeah but most likely MH World G rank will have early decorations.
    Fighting two monsters at once. Screw that Rathian/Rathalos fight! Again a really simple fight with flash pods... or even dung pods.
    Completely OP armor sets during the late game, that are too good not to use. Everybody just has the same three armor sets late game. True but at least every weapon has different preferences, so a lot more armor sets.
    Weak, and useless armor sets for the early game. True as it should be.
    It takes a metric ton of Armor Spheres to upgrade your armor. Not in my experience... I got too many.
    Recycled monsters and hunts. " True, but content keeps coming out like Behemoth.

My comments in bold.

My annoyances are:
Every monster is pretty easy except Behemoth.

Kulve Taroth RNG is painful

Attack decoration RNG is painful

Flying monsters can just be flash podded and then they are basically useless

Extreme Behemoth gives nothing but layered armor.

All resources are too plentiful late game, I want more stuff to spend points, loot and zenny on.

Multiplayer scales to 4 players whether it be 2,3 or 4 players...

50 Guild Card trophy.

I put 100 hours in World, and played the Generations demo. Honestly, I agree with a lot of what I read in the OP, but at this point I don't think I can go back to the 3DS style of Monster Hunter again. Playing the demo, I felt like I was fighting the game itself just as much as I was fighting the monsters. Maybe that would go away the more used to it I get, but getting pushed out of an area and having to wait a few seconds for the game to load, or being stuck standing still anytime I want to use an item, just reminded me just how much I took the quality-of-life changes in World for granted, and really makes it hard to go back.

I do wish World had more monsters though...compared to past games, the variety of monsters was severely lacking. I mean..what happened to the insects and spiders? Or the beasts? Is Capcom scared of PETA or something?

I am jealous of how much time you've already put into it. I bought it at literally the worst time (very busy).

I do agree that there was a lot that was lost (and gained) from the move to Monster Hunter World. Which is pretty ironic because I was singing it's praises since it's announcement, and I felt like the only one in the fan community who preferred where Monster Hunter's direction was going (I actually still prefer the World direction but there are so many obvious misses that newcomers just wouldn't be able to notice). It's the kind of thing where I wish I could make a blog or Youtube video about it, analyzing what was improved and made worse. Too bad I don't have any talent in creating videos or sites.

Well, I don't think one is better than the other. They are different. Basially GenU is the hardcore-game for the gamer that goes into the details, is willing to figure stuff out on his own and work for his wins. World is a bit more hand-holding. Still, Generations could do well with getting rid of the loading screens and World would do good with some more content (weapons and monsters). So improvements on both sides are possible.

I don't really think there is any point in comparing the two, to be honest. Generations the last game in 4th generation of Monster Hunter. Therefore it must keep the old style of gameplay while getting ton and tons of contents. Monster Hunter World is the start of a new generation. It is like comparing Pokemon Black 2 to Pokemon Y. You really only compare because you want both games and must pick one.

It basically boils down to content vs gameplay at that point.

The only way I want the loading zones removed is if Capcom can find a way to replace what they bring to the table. The way I think about fighting monsters in Monster Hunter Generations is completely different to the, dare I say, "primitive" way of approaching monsters in World. If they can figure out a great way to give me that tactical mind back, I will never play an old school Monster Hunter again...

...well, they also need far more content and more difficulty. But that would be an amazing first step.

I feel like a lot of negatives for World, you're just nitpicking for the sake of having something down.

• Lengthy Attack Patterns - That's actually a good thing is it not? The developers actually took their time to add in the motions for more than one attack. If we look back at the yee olden days, I still get PTSD from hip checks.
• Speaking of Plesioth, you don't know what bad hitboxes are until you face him. Plus, World does not have bad hitboxes, at least for me. Maybe I'm just remembering the bad days of Plesioth, but World had some pretty accurate hitboxes from what I could say 200 hours in.
• Monsters won't stop Flying, really only Azure Rathalos is the one that won't stop flying. Everything else lands in a couple of seconds.
• Damage from monsters from the little things make sense. These are Monsters that are 5-20x bigger than you. This is one of the few details in World that makes sense.
• Fighting two monsters at once? AS A NEGATIVE? Where's the fun in only fighting one monster at a time?
• Armor, you have it completely backwards. OP in the beginning, useless in later games.  Also getting Armor Spheres is a piece of cake, It would take me probably an hour or two to get enough armor spheres to fully max out high tier armor (not augmented).

I'm enjoying MHGH, while recognizing a lot of areas where simple improvements could be made. With the Switch more in line with previous home console specs, there's no reason that the next "portable" MH can't take some of the QoL improvements from World and create the true "Ultimate" MH experience.