Below you will find a few reasons why playing former generation games is absolutely great.
Recycling and resisting our consumer society
Playing on less recent consoles that are still working instead of throwing them away is actually quite environmental friendly. In my particular case, I have never bought a new console but only those no longer wanted by other people. The fact that most consoles are obsolete after 5 years combines perfectly with my patience.
Loads of available ressources
You can easily find both hardware and software ressources, in particular of the generation preceeding the current one. And there are lots of lots of games. As an example, there are almost 1’500 PS3 games and over 2’000 for the Xbox 360.
About 5-10 years after the release of a console, people want to get rid of them in order to purchase something of the latest generation. The law of supply and demand applies also to second hand electronics, including video games. You almost get it for free.
You get to actively know another kind of history. Being able to play all these retro games will give you a glimpse of how video gaming was back in the days and how (maybe even why) it evolved into today’s state.
Good graphics isn’t everything in gaming. In some cases, beautiful visual effects even cover up a bad content. Innovation and great ideas for games wasn’t invented last week either. Some of the greatest games ever are not to be found in stores anymore.