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That was an era? I don't even remember what games were released back then.

Mostly, though, gaming is pretty much the same. The big change has been with the quality of games from smaller studios improving by leaps and bounds. Western studios have risen, which is awesome, as some of the best new IP have come from the west, but Japanese studios had a bit of an identity crisis and their quality faltered for awhile.

There have been negatives but every era has negatives, even if some people refuse to remember them.