I feel like fact that graphics have reached a point of somewhat diminishing returns, combined with the fact that many games were crossgen even like 3 years into this gen, (heck, COD came to PS4/XBO even 5 years in) kinda combines to make it feel like this gen has only just started even though we're at the point where historically a gen would be ending.
Plus, as others have said, the relatively smaller number of iconic big games this gen due to factors like longer dev times and Sony's live service push.
PS5 and Xbox Series X also don't really feel like they're near to tapped out compared to where PS4/XBO or PS3/360 were at 6 years in, again cos of the crossgen period, and the fact that nowadays graphics seem more bound by time, resources, money, etc rather than raw power.
