The ones mentioning Nintendo are always the ones that barely play Nintendo games. Theres a difference between being dependent on nostalgia and using nostalgia as fan service. If Nintendo were only dependent on nostalgia, then every console they made would be a success since people would only be looking for stuff from their past.
If anything too many gamers depend on nostalgia and what they are used to. That's why the PS controller has barely changed in 25 years or consoles these days need to do way more than just play games on a TV.
Nostalgia can help get you a few more sales, but without innovation and creativity, it means pretty much nothing in the long run.