No, we're in a golden age of gaming and have been continuously since the mid-80s.
Alpha Centauri and Civilisation have been updated, expanded and released in newer versions every few years and are now the entry level into grand strategy, with a wealth of far more complex games with significantly more depth.
Quake3 and UT2004 are primitive compared to the Battlefield series - they don't even have usable vehicles!
Some videogames are indeed interactive movies, but many are not. There's more choice than I can remember, games are more affordable than they've ever been and there are multiple high quality options in almost any genre you want to play.
Maybe you're constrained to a platform that doesn't enjoy the diversity and variety available on a PC, but the games exist, they're available, they're very playable and please, get a Dwarf Fortress fortress surviving for a decade before claiming "there are actually less things to do" because trust me, no game before it has even tried to come close.