It was good because it didn't boil down to a few utility sites. Everything was creative, not corporate.
It was bad.
Imagine writing a web browser when the only reference you have on the HTTP and HTML standards is a book.
Someone had to write the first TCP/IP implementation without the help of the Internet.
How was the first debugger written without a debugger?
Similar to the internet, there is more of the content the OP post wants than ever before and there are whole communities like neocities dedicated to it. This is all just complaining that there is now other stuff to consume as well and that the majority prefers it over their nostalgic gif based sites.
But Indie games are a thing, and some of them are incredibly good. My favorites are Hades, Factorio, Undertale, Rimworld, and Oxygen Not Included. But also popular are Stardew Valley, A Hat in Time, Terraria, Hollow Knight...
I could go on. Look on the top rated games on Steam [0] and you'll find plenty of amazing games that aren't designed to extract as much money as possible from you via microtransactions.
[0] https://store.steampowered.com/search/?sort_by=Reviews_DESC&...
I miss not having to install games on consoles, or patch them day 1.
I miss expansion packs that were basically a full length additional game with the same mechanics, as opposed to DLC which always feel short and underwhelming and still cost a lot.
I miss offline games. I mean games that never ever connect to the internet even once.
I miss unlocking stuff in-game with accomplishments in-game instead of microtransactions.
I miss dedicated servers for multiplayer instead of crappy peer to peer that we have in every game now.
Gaming really just isn't the same anymore. Once some company finally makes Cloud gaming work for everyone it will truly be dead.
Doesn't contradict the thrust of your comment, just an interesting thing to know.
https://aeon.co/essays/the-tragedy-of-the-commons-is-a-false...
To perhaps have more of your future be before you rather than behind you.