It's also ironic given how the average TV is gigantic and crystal clear now compared to the Goldeneye rec-room tube set salad days, and controllers are wireless by default. This should be the best time for local multiplayer.
I don't think it's just a generational thing with me, either. I played plenty of local multiplayer back in the day and greatly enjoyed it, and don't find online engaging at all, even with friends, despite plenty of people my age (30) being glued to online games. Rather than adapt I just stopped playing multiplayer altogether outside of local Smash Bros.