Here is a list of what changed in the last ~20 years or so in MTB technology:
- geometry: slacker head angles and longer reach, steeper seat tube
- wide handlebars
- dropper seatposts
^^^ these 3 above fundamentally transform your ability to descend or ride technical terrain. A very skilled 90s rider could have attempted some of todays enduro tracks, now they are very reasonably accessible by medium-skilled riders.
- tubeless tires
- suspension tech in general
- 1x drivetrain
- disc brakes becoming ubiquitous
- 29inch wheels, wide tires, tire material...
I mean, now that I think about it, I can't think of a single part of a modern mountain bike that was not revolutionized in the past 20 years (maybe the saddle?).
Comparing bikes from the 80s/90s versus the bikes of today is like comparing cars from the early XX. century to cars of today. Yes, they mostly all have 4 wheels, but...
Which is not to say you can't love your old bike, and ride it to your heart's content. But if you haven't tried an MTB from today, you are missing out. Just sayin'...