The only thing missing from this gen are a few years of existence to make us forget the first year. So far, going from PS3 to PS4 has felt a lot like going from NES to SNES, with many crossgen titles and a general focus on fine-tuning and improving on concepts introduced last gen.

Buy a Wii U.

Couldn't have said it better myself. What disappoints me is that these cross-gen titles often run at 30fps even on the new consoles. I'm not convinced that their has been a big enough boost in CPU power in these new consoles. In fact I'm amazed that they are selling so well.

It's missing remakes.

Lack of power.

This generation doesn't make you sit in awe of the gameplay or how the games look. It is simply a bit of a spit polish on what we have had for 7+ years. Just playing Star Citizen for the PC and frankly this game would count as 9th gen (damage model, detail, gameplay, graphics - all of it) as it us so beyond every other game...and it is in alpha. Here's a screenshot from in game: http://i.imgur.com/3s7NeUU.jpg

Not sure if it's been said or not, but games that actually work. Yes, I'm still pissed Ubisoft released a POS like Unity and still had a great quarter.
Aside from that, new experiences, kind of like what we had with things the Wii and games like Mirrors Edge at the start of last gen. Everyone, seemingly outside of Nintendo (though, they're kind of being forced to be different via the failure that is the Wii U) is playing it safe right now. Also, the 7th gen consoles need to stop being supported with games. Multiplats that cater to the 7th gen and 8th gen are being held back.

The Order and Bloodborne both have that feeling.

Games from Japan

IMO for now the 8th gen just feels like Gen 7 2.0. Only very few games like Fifa could be shared between Gen 6 and Gen 7. PS360 could achieve things that were impossible before, even the Wii with its unique controller did so, too. But eighth gen is basically the same with better graphics. Most games can be ported to last gen, they simply have to chop off the visuals and everything will work well... In glorious 720p sub-30FPS, of course, but well nonetheless.

I think both PS4 and Xbox One should've been a bit more powerful than what the PS4 is, and thus making 1080p a standard. PS360 back then were on par with high-end PCs, but that isn't the case with PS4 and Xbox One. The power difference between a 2005/6 system and a 2013 one is quite noticeable but still the new gen doesn't achieve anything crazy impressive. I'm not asking for 4K gaming, but it would've been nice to have 1080p @ perfectly stable 30FPS as a minimum in all games. Instead, all we have is "hurr durr resolution hurr durr fps hurr durr gameplay hurr durr pc master race", just watch a Digital Foundry video and check for yourself. The community is incredibly toxic. The argument between PS3 and 360 was somehow fun because they both were almost equal, and thus it all came down to the games. But now... Every gaming site I go is just a sad pixel war.

What has gaming come to, really.

The only thing lacking this generation are gamers who aren't a bunch of whiny babies.