While I do agree with most of what you say especially the part in which you say that realistic games age badly, I disagree with you in your third point. The problem are not the new games or consoles but you. As one grows older he makes a fine line between past and present. The past seems magical a time when games were amazing. The present is a time riddled with problems were games lack magic. Many go through this phase explains why many gamers collect old consoles to relive that time when games where magical but intact they have grown into adults and changed.
I'm 34 and have been playing games since I was 4 which means I've experienced every generation starting with Atari 2600 AS IT HAPPENED and let me tell you something, that "magic" thing you speak of? I had it all the way up until the this generation when I bought a PS4 at launch. It has nothing to do with youth for me, because I haven't been considered "young" for ten years.
For me, the PS4 and Xbone lost that magic when they released consoles and software that were shiny versions of what we have been seeing for years now. Nothing fresh, nothing new. It took a few months before the joy of the new toy I bought wore off and I was left bored to tears. Not that the games sucked, but because, like I said..been there, done that.
So, I went with Wii-U instead. I got the MK8 bundle, and The Wonderful 101 and...there is was...that magic again. You can't keep playing the same murder sim/FPS/mature/dark hum drum software over and over again without it getting old imo. Back in the day, each generation meant brand new experiences and THAT was what made the magic happen. Without it...meh...