I think you've touched on something key: people's acceptance of bugs is often outweighed by the new features they get. In other words, if the "new functionality" is perceived to outweigh the costs of the lack of reliability, the product will be deemed "less buggy" because people "understand" why there are issues.

This made total sense in some of Apple's biggest products: OS X and iPhone. When OS X first came out it couldn't even burn CDS, but we all "understood" the magnitude of the project and thus gave it some slack. Similarly, the iPhone lacked a lot and was slow, but it was such a revolution that we let it slide -- in fact we let the rest of the products slide.

The problem today I think is that these decisions are being made for reasons that users don't deem "worthy". Introducing some new music services is not a good enough reason to break my iTunes. The fact that a new watch was released is not considered important enough to let other platforms languish. We "get" why less attention is being paid to other products, but unlike with the phone, its not deemed a good trade off.

In other words, I don't think Jobs was distracting us with promises, but with actual shiny things that made the bugginess worthwhile.