I'll say this: it feels like there have been more high-profile critical/financial failures and disappointments for big 3rd party publishers this gen compared to last gen.

I totally agree with the OP. This generation's* batch of consoles is a huge disappointment. It's pretty clear actually. Just look at the XB1, Wii U, 3DS and Vita. Each one of the consoles is a disappointment compared to it's predecessor (in two cases they were massively epic failures). Each one also has a lot less new IP compared to its predecessor and that includes both first and third party games.

That just leaves the PS4. It's less of a disappointment than the other consoles, but it's a disappointment nonetheless. The PS4 is succeeding mostly because the 4 other consoles I already mentioned were such disasters. Even though the PS3 was such a huge financial failure, it still had a better library than the PS4 does. Really I'll take the first 5 years of the PS3 over the current PS4 stuff any day. Remember when Assassin's Creed was a hot new IP? Now it's got microtransactions. It's just terrible. The PS4 has the honor of being the least disappointing console in a full crowd of disappointment.

*by this generation, I mean consoles released (2011-2013).

Innovation this gen is happening in VR.

PSVR alone elevates the PS4 over PS3. 

The comparison isn't just about critic reviews or user satisfaction. It is about new ips. I have said this time and time again, but I don't care about metacritic or any other user's reviews of the games, or even the sales of the games. But all things can be put together to define what is a big new ip.

I don't see how Wolfenstein is a reboot and Monster Hunter World isn't. In 1992, Wolfenstein was FPS. In 2001, Wolfenstein was "rebooted" as an fps. In 2009 wolfenstein is an FPS. And in 2014 Wolfenstein is an fps. If the ip is released nearly every generation as the same genre, I can't see how it is a reboot. Meanwhile Monster Hunter World is Capcoms first serious attempt to make the MH ip a AAA franchise. Sure gameplay is kind of similar to past entries, but that is just like Wolfenstein.

I don't think we are going to get anywhere, as it all seems too subjective as my first post indicated. I will eject from this thread...

I'm not sure I'd agree. I would actually say it's surprising how much big new IP we've gotten, especially because they are from a lot of publishers who tend to stick to a couple of milked franchises. The problem is more in the fact that a lot of hardcore gamers just aren't interested in these games because a lot of them aren't critically impressive, which leads to the mindset we haven't gotten a lot of new IP.

To be fair you do have a number of spinoffs in your "new ip" section.

As opposed to the DS library, agreed, that would be interesting.

Well that may explain the lack of new IP.  Innovation is going into VR instead of the standard games.  Of course, just like a lot of people don't count all those new games on the Wii, I don't really count all those new games on VR.  I have no interest in VR.

You're doing it wrong. Every other windows is good.

Windows 98 Good, Windows 2000 crap, Windows XP Good, Windows Vista crap, Windows 7 Good, Windows 8 crap, Windows 10 Good!

I was hesitant, but after using 10 I could never go back to 7.