Some old media can withstand the test of time, some don't. Example: Sonic 2 is still fun today. Sonic Adventure 2 is shit.
Some new media can be better than the old, some aren't. Example: Demon's Souls > Legend of Zelda: Ocarina of Time. Dragon Age 2 cannot even hold the tip of the candle to Baldur's Gate 2: Shadows of Am.
Some people can be nostalgia fanboys. In return, the modern fanboys can be equally as shitty. Example: Old Pokemon fanboys not accepting Pokemon past 150. Newer Pokemon fanbrats that cannot accept criticism on the later Pokemon designs and use old Pokemon like Muk as an excuse to have shit like that garbage Pokemon be okay.
Games were harder back in the day. I was playing the first Double Dragon today on the Megadrive and I got my ass kicked on the first level. Then looking back at the old cartoons; the 90s Incredible Hulk was hilarious. I made a drinking game out of it. Technology... things were tougher; blowing the dust out of a game cartridge made it work. However, I do agree that this Retro/Vintage trend is just a fashionable thing to be right now. Nevertheless, like every fad that is popular, I will just ignore it and do as I please and carry on.