To me, this argument only makes sense if you draw the line at PS360.
The current state of the industry is the same as the PS4/XB1 gen. That’s where the AAA game releases became very slow e.g. a 6 year gap between inFamous First Light and Ghost Of Tsushima.
Rockstar only released 1 game last gen. Ubisoft fell off in game quality immediately. EA published ten times more good games on PS3 than PS4 (mostly slop). Capcom have continued their resurgence into this gen which started with RE7.
Objectively, the pace of games fell off a cliff last gen. In 2009 alone, Sony published Uncharted 2, Killzone 2, inFamous, Ratchet & Clank: A Crack In Time, Demon’s Souls, GT5, etc. 2020 was the closest the PS4 ever got to that.
It was the later years which solidified the PS4’s legacy. 2014 was one of the worst years in gaming history. The first few years of the PS4 gen were quite dry. Games like Killzone Shadowfall and Knack were slop, tbh. It was the roughest transition from one gen to the next. Only PS console which started with no backwards compatibility which didn’t help.
**Feel like people have had a delayed reaction or something**. One thing that softened the slow pace of releases last gen was Sony having a more transparent roadmap, showing most games off at 3 E3s in a row before release. Now, they’ll announce something like Astro Bot just 2 months before release and win GOTY.
But ultimately, hype and a roadmap don’t change how many games you’re actually getting. It’s just PR.