There's a lot of cool games on older portables, yeah. Some of them have aged quite well thanks to their simplicity. I had a Gameboy so there's a lot of nostalgia for that soundchip too.
Personally I would characterize modern gaming mostly by volume and availability. This extends to big swathes of older games too, there's been a real effort across the industry to re-release (and re-monetize) older games. Obviously not every game is playable on modern hardware, and outside of maybe Steam PC there is no centralized method of distribution. As a result it's a real patchwork of solutions, but if you combine this with the whole retro aftermarket, and retro revival through the indie scene, it's honestly not too bad of a time even if you have retro sensibilities.
As for the complexity of games, I wanna note older games on PC were often quite complex too. But in general I think we're seeing movements in multiple directions. Some games, like Xenoblade 2, and many PC-only series, are ramping up in complexity. Simultaneously the big budget console field is pushing hard on timesaving/QOL features (cloud saves, faster loading, automating lots of interactions) to prolong when players will drop off.
On Mobile we see the Simple Concept, Deep Systems approach working out well. I think a lot of today's biggest games are similar: a simple core concept, with as much permutations as possible. Minecraft, Hearthstone, Overwatch, Fortnite, Rocket League, Rainbow Six Siege, PUBG, CrossFire, NBA 2k, etc.
For a long time I thought games would trend towards open world design, and try to incorporate as many genres (stealth, action, shooting, exploration, crafting, vehicles, base building, etc.) as possible. But nowadays I'm not so sure. Very few studios are given the time and budget to compete in the GTA/Assassin's Creed/Zelda BOTW/MMO-RPG sphere, while big hits tend to be smaller scoped projects with theoretically endlessly varying results (FIFA is ultimately just some fields and people playing soccer, but generates endlessly varied matches).
My personal taste has been heavily influenced by art styles, growing lack of patience, and available free time. I used to be into endless sports games and big RPGs, but 50 hours over several weeks/months in one game equals 5-10 shorter games, and with sales they might even cost around the same. As a result, my taste has trended towards the bigger indie games. They tend to present aesthetics I like but don't see in most AAA projects, and are often designed to play through once and never again.
Definitely still like paying attention to the bigger releases, at least those by Nintendo, but the reality is I don't really buy/play those types of game often. A 3-5 hour campaign would be my ideal nowadays, and I barely interact with multiplayer or even sidequests. Certainly run into the occasional exception, and most games tend be longer, but I'm glad there's a pretty big market out there for people like me.
Big games I'm currently looking forward to: the ports for Outer Wilds, Umurangi Generation, Disco Elysium, and maybe the Tony Hawk remake.