You know, I am a 90's child and yes the 90's were pretty awesome, but they are also long dead and gone and we need to move into the future.
The truth is, gaming's not dead, it's changed direction. And quite honestly gaming has always been about changing directions, think about how people reacted when gaming went from 4 Bit lines and barely identifiable figures to greater detailed 8Bit sprites? Hell what about when games when from 8Bit to 16Bit. Kids were happy to see the changes because it meant something new was coming along and but I am willing to bet there was an older generation that was totally against it and even calling gaming "dead" because they didn't like the change.
Of course we can also argue that every single generation believes they are best generation and crap for their generation is the best crap.
Gaming has changed and sales reflect that. If people want games like CoD and sequels, then that's what we are going to get. Take it from someone who is actually the head of the video game department in my store. I have to track sales to know what to order for the store, thus my job to know what's selling. And you know what's selling the best? GTA 5, COD, Borderlands, Pokemon, ect. Games you expect to sell well and thus they do.
The truth be told, the gaming industry has always been about making money and giving the fans what they want by sales reflections. If one style of game shows better results to another style, they will start making games like that. Even if they change some things up, they still attempt to keep the same core elements that get the sales. Even the most innovative companies like Nintendo really doesn't do much innovations. They just take what's selling well and mix it up a bit to see what happens. Platformers sell well for them, so what do they do? They add a new gimmick to the core and see what happens. If it goes well, they start working on more like it. Once they stop selling well, they start a new gimmick, That's how the gaming industry works. It's all about making money through some new gimmick added to something popular.