Retro does seem to be pretty popular, both in gaming and other things. Audio for instance, a lot of people look back at things like 8 track, cassette, cd etc and have a good laugh but vinyl records which predate all of those have steadily been becoming more popular. According to Fortune they're at a 28yr high for sales as of April this year. Self printing cameras like the polaroid were featured at CES 2016.
I don't think it will turn people away from current game titles but despite the horrible (by today's standards) graphics the old games are nostalgic for many and offered a lot of fun game play.
I've got to agree with 10tacle on some points. The newer games are being shoved out before they're completely polished, glitches, massive updates on day one, poor optimization. That's the sort of rookie mistakes I'd expect from indie games, not AAA titles. It's disheartening when gamers get all excited and look forward to something only to find out there's stuttering, frame drops all over the place, the game won't get above 20-30fps on the new 144mhz monitor they purchased even when using top tier hardware.
I don't personally play a lot of games online in multiplayer, just a small handful of flash based games through social media. The cheating, trolling and general behavior between opponents from other teams/clans is ridiculous.
They say shooter type games invoke violence? I've seen the most generic of games similar to farmville incite people to the point of threats and the type of language that would make a gangster flinch and road rage seem like a quiet drive through the country. Hate to see what it's like on a real time combat game with all the trash talk.