Since when did good graphics started to be more important than good gameplay. Like never... This whole statement is nonsense. It's almost stating that all good looking games play like crap or are broken, which is utter bullshit. Sure their are games that look great, but play crappy. But there are more crappy looking games with bad gameplay. There are hundreds of games that look, sound and play great, starting already at the SNES area.
To be clear good graphics are not just the amount of polygons and effects on screen, a good artstyle with great animation and steady framerate can make a less technical game still wonderful to look at. Good graphics and animations can really benefit the gameplay in way of playability, atmosphere and immerision. Graphics and gameplay go hand in hand, and both are equally important.
Gaming as a whole is changing and becoming more mainstream. But saying that this generation is full of broking games is a very big overstatement. Sure some games have a very rough start with lots of problems (DriveClub is also a good example, a game which i love from day one btw). It's always the online part that is broken. Is this acceptable, in general not, but is it understandable? yes! Usually games are tested and tested and tested, also today's games. They test the online multiplayer with a few 1000 people, all works fine. Then the games goes live and (in some case) a million people go online at once, and boom servers collapse or strange problems occur. Problems that are in most cases impossible to predict during testing. These are problems that were absent during the PS2 area and before.
I'm not to fond of DLC in most cases. But is it really such a big evil? Not really. Rarely DLC is needed to finish a game or make the experience better. There are just a few cases (like Tigerwoods golf) where EA forced you to buy DLC to actually get a full game. But mostly DLC is just for enhancing a game you really like. True that most DLC would be included in a game from older times... but times change and so do production costs.
There are good things to say about todays gaming landscape too. Lots of cool indy games which bring a nice variaty next to all the "big games". Free2Play is a good concept (makes me think back to shareware times) and works very well in some cases (World of Tanks is a good example). And in general games are cheaper then ever before.
The old games are so much better argument is getting old itself. I've been playing games for over 30 years and old games are in general not better than new ones. A lot of games that i played as a teenager where great for their time, but just don't compare to their modern day version. Just take Tomb Raider, the first game was awesome in 1996. But playing Tomb Raider (2013) makes me see and realize what new technology and graphics can do for a game.
Just bitching about everything that is wrong with this generation and not seeing all the great games that are out and coming out, is just your loss as a gamer.