There are definitely genres where I buy that argument, like early flight simulators and military copter games, many of which are now pretty hard to swallow. But I don't think the last 20 years or so of tech have too much impact on what Bokosuka Wars or 1942 were trying to do, since there are other strategy games and shmups from the era that still hold up wonderfully today.
(I also find myself repulsed by a lot of the aesthetic changes that've happened since 1995 and, especially, since 2005, so I often actively prefer older platforms and technology. Same thing with movies and music, FWIW.)
For me, the main test of a good game is simply whether I enjoy & look forward to playing it. No matter how good the graphics may be, or how loudly reviewers insist that it's the greatest thing ever, a game I don't enjoy isn't a good game -- and a game with horrible graphics and play control that I do enjoy is a good game.