100% agreed with all of these, but I would add one more factor: Limited spare time.
When I was a kid, it was a lot easier to spend a few hours in front of a console undisturbed, immersed and focused on the game. When you’re an adult and come home from soul-crushing work, hungry and exhausted, then your last bit of energy goes into household, pets, chores, family and the like and then it’s late at night already and if you don’t go to sleep soon then the next day will be worse. Where and how do you cram a couple of consecutive, undisturbend hours of playtime into such a schedule?
If a game isn’t immediatly interesting, fun or otherwise a good reality escape, it is not worth sacrificing time on it when you have to strictly ration your limited amount of spare time already.