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Isn't this a constant sliding scale?

When I was young, Atari 2600 was "retro", SNES/Genesis was recently replaced and PS1/Saturn/N64 were "modern"
When I was a teenager, stuff like NES was just becoming "retro" and PS2/GCN/XB were the new "modern"
Now consoles like the PS2/GCN/XB are starting to become the new retro while PS4/NSW/XBO take over as the new modern consoles.

These modern consoles will also become retro in time, so its really strange to make some fixed point in video game history the barrier between the two labels.