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I actually agree with OP, I loathed the 7th generation (for consoles especially) and have never bought so few games over the span of one gen. The 8th gen seems to have taken the worst bits from the 7th and simply expanded upon them.
There are some diamonds in a sea of coal but overall; it's pretty much shit so far.
I'll wait until another couple of years have gone by to call it a disaster though, with development cycles being as long as they are today and us being only about two years into the full console cycle, there is still time to redeem it, let's hope the industry learned something from the early problems and the few who did things differently and still succeeded greatly (like CDProjekt, for instance).