I don't know if I'd use "golden age" to describe entertainment right now, and I certainly wouldn't use it to describe gaming. That's because I think gaming has been constantly getting better (sure, there have been some ups and downs. But, the trend line has been very clearly moving up since the late 70s). So, it isn't a golden age. But, it is a great time to be a gamer.
You made essentially all of the points I'd make, so I'll just say this - if I had nothing to do in life except play video games, there is still absolutely no way that I would be able to play even half of the great stuff on the market. This is a great problem to have.