I would assume the OP is moreso about the mainstream titles, A lack of real excitement and creativity. Part of that is going to be just the horrors of growing older, and a general lessening of the magic of it all. There is also the element of the dirty laundry of the press/companies being out for all to see as well.
But yeah I agree with @Basile, plenty of indies to play. I do think a lot of the magic has gone, especially for console players. day 1 updates, licensed dlc that expires, online only games, money hungry storefronts etc etc we all know those elements. less than a literal 'went wrong' its moreso the spirit.
its pretty good at the moment if you disregard the mainstream, emulation is super easy these days and there are lots of games that will tickle your fancy. lots of open source stuff too which is always cool