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This video does make some fair points.  There are good games and bad games today, and just as their were good games and bad games in every previous console generation.  However, this video is mostly about defending modern gaming.  In doing so, it is fairly dismissive of retro gaming.  Do retro gamers have "nostalgia goggles"?  Yes, but it is no more prevalent than people who have "shiny new game goggles" or people who are simply technophiles.

Here is a more objective way to look at this discussion.  Ask these questions:

1) Are there ways in which both groups are biased?
2) Are there ways that a person's preference is gaming comes down to taste?
3) Are there ways that modern games are objectively better?
4) Are there ways that retro games are objectively better?

So lets break it down

Are there ways in which both groups are biased? 
Yes.  Everyone has some biases.  Furthermore when you start talking about groups there are going to be individuals in both groups with huge biases.  The other points are more interesting though, so let's move on.

Are there ways that a person's preference is gaming comes down to taste?
Yes.  Modern games tend to be longer.  They also are more likely to be oriented around story and cutscenes.  Essentially, the most popular games today tend to be designed to be played through once while retro games are more likely to be shorter and designed with replay value.  Which one is better?  This comes down to taste.  A person who really likes story games will probably think that modern gaming is unquestionably better, while the person looking for a shorter game with replay value will prefer retro games.  Also, modern games tend to be more complex than retro games.  How complex a person likes their game is also a matter of taste.  Some genres, like 2D platformers, do not get the kind of attention that they used to.  Other genres, like 3D open world games, are more popular now or maybe weren't possible in some earlier generations.  Which of these genres are better is a matter of taste.

Are there ways that modern games are objectively better?
Yes. Graphics is one obvious way that modern games are better.  Another way is that a modern buggy game can be fixed through patches, while older buggy games could not.  Lastly, and most importantly, new games are better because you haven't experienced them yet.  Let's say, for the sake of argument, that both Horizon games are equally good, but you've played the first one but not the second one.  That means the second one will be better than replaying through the first one again.  The second one is a new (or at least "new to you") experience, and it is inherently more fun to play through a game that you haven't experienced before.  The "new to you" game will have some degree of novelty and surprise that the one you've played before won't have.  In short, "new to you" experiences are better. 

Are there ways that retro games are objectively better?
Yes.  Over the years, gaming has become less consumer friendly.  All of the new pricing models (like microtransactions) on some games do make them worse.  And while some people do prefer longer games, shorter retro games have an indirect advantage: you can try more of them in the same amount of time.  One reason that many people are not playing all of the good modern games is that they simply don't have time to do so.  Many modern games are a huge time investment, and so the player has to be more selective with their time. 

However, I think the biggest advantage that retro games had was shorter development times.  Impactful games and innovative games used to come out more frequently in earlier generations.  That is because development times used to be significantly shorter.  What are the biggest selling games today?  Minecraft, GTA5, and Mario Kart 8.  These games released in 2011, 2013 and 2014 respectively.  Each of these games are older than an entire console generation.  On top of that 2 of those games are sequels, and most game of the year games also tend to be sequels.  Their is less originality in the biggest releases of today than there is in the biggest releases on most retro consoles.  Keep in mind that the first entry in the following series all released on the same console in the span of just a few short years: Super Mario Bros, The Legend of Zelda, Metroid, Kid Icarus, Final Fantasy, Dragon Quest, Castlevania, Mega Man, Dr. Mario, Metal Gear, Advance Wars (Famicom Wars), Fire Emblem, and Tetris.  That is a lot of innovation in a short amount of time.  And those are just the franchises that people have heard of.  One of the biggest advantages of retro gaming is that you can find a lot of fun experiences on these older consoles that are nothing like what you find in the top modern games today.  As I stated in an earlier point, novelty is better, and retro gaming is full of novelty.

So, basically there are some things in modern games that you just can't find in retro games, but the opposite is true too.  Both types of games can be very fun, and it is probably not a good idea to immediately dismiss one type of gaming over the other, unless you can first acknowledge that retro gaming is objectively better in some ways and modern gaming is objectively better in other ways.  And of course, a lot of it does come down to individual taste.