I tend to agree there’s lots of amazing games locked to the PS3 like GTA IV or mgs 4 but then again my issue was never with the content the PS3 had but rather it’s performance many other people have said the PS3 felt like it couldn’t walk and chew bubblegum at the same time using PSN and downloading a game could take a few minutes to just start a download.
I typically don’t worry all that much about performance I’ve never had a problem with games that run at 30 but games like crysis 2, Skyrim are good examples where the performance was so unstable you would never even touch the top of the frame cap and the hitching was worse than say Goldeneye on the n64
I think emulation is more than possible on the ps5 though it’s just that Sony has no incentive to rush it’s development it will likely be a ps6 feature if it ever happens at all.
But yeah the 9th gen has been so bad from a content perspective thats a given I see constant articles where people are frequently expressing their disappointment around the industry as a whole right now to much live service competition that sinks longstanding studios and consumes Devs time less ambition and games cost so much to make they have to play it safe.
The 5th gen was easily better than the 9th we had some all time greats crash, Spyro, Tony hawk, mgs, Mario,64, Goldeneye, Mario kart 64 the list goes on. The 5th gave us a new dimension and I remember being blown away by how much more open gaming had become the 4th gen with the mega drive and SNES was great and very easy to still revisit some of the greatest games of all time came out like earthbound, secret of mana, sonic , Mario world etc but saving our games was still not a standard function or a given so gaming was still evolving but it was very impressive to see some of the tricks Devs used like dithering to give us new experiences those earlier gens limitations bred innovation.