What if I chose option 2 but still did 1 anyways? What would happen?

Option 2. The library is vastly bigger, and a lot of the games that are even 10 years old are still great to play. PS2, Gamecube, Xbox, and Dreamcast gen alone probably would give enough amazing games to eat up a lot of the ten year wait.

Yeah, but no Suikoden, no Lunar, no Chrono Trigger or Chrono Cross, no Xenogears, no Xenosaga, no good Sonic games, no Mario Galaxy, 64, World, or 3, no Mega Man, no good Castlevanias, no good Silent Hill (the remastered Silent Hill games are trash), ect, ect, ect....

I'll wait the 5 years from now to play Xenoblade.

I'd be fine with Option 2, mainly so that I can focus on beating a crapload of older titles I never got around to.

Exactly. With option 2 you may be late to the party, but no series is off limits. 

With option 1, some really amazing series are gone forever.

No time to play all that, I could be dead in 10 years!

Besided I already played all that I was interested in, and don't want to wait another 10 years for VR and I enjoyed Silent Hill: Downpour. It would be different for movies. Most new games are very playable, most new movies are close to unwatchable.

Ugh, its an impossible choice for me, since I love playing old and new games.So I choose option 3:"Take the best of both worlds!" XD

But imagine you play a game, for example downpour was your first Silent Hill, and everyone lets you know the first 3 are the best and in fact are a trilogy. There are tons of games may not be able to play the best parts of the series of.

I haven't touched OW in a couple weeks, but whenever I clean my backlog, I tend to lean towards recent games.

I spent an unhealthy amount of time getting the plat in Gravity Rush 2 last weekend for example.

clearly option 1 if you have to choose....  but i do love my retro stuff.