Also there are a lot more high-quality games available now, for a lot less money. In the '80s and '90s you might spend $50-100 on a bad game and you'd play it anyways because you couldn't return it. Even if you could, your local game store only stocked so many things.

Now if you're paying full price for a game you've at least had the ability to read reviews and you know it's going to be half price in a year but you want it now. You also have tens of thousands of other games to pick from in basically any genre you want, accessible more or less on demand.