It's all personal preference really. Ni No Kuni is something else. Last time I've been this charmed by a videogame was back with Final Fantasy 9. Nothing last gen even came close, except perhaps Dark Cloud 2 which I felt was let down by the dungeons in the end, and Skies of Arcadia.
Without going too much off tangent, PSP and DS are considered current gen and those 2 platforms have great JRPGs out the ass. Your title should perhaps be altered to, 'lack of great JRPGs on home consoles this gen', and even then I'd debate it.