This is a common misconception. Major OS updates always introduce more bugs than they fix. Bertrand Serlet put up a "No New Features" keynote slide for Snow Leopard, but that was highly misleading, because Snow Leopard had many big under the hood changes, and the early versions of Snow Leopard had some nasty bugs. You can go back and look at the old Mac OS X release notes to see the descriptions of the bug fixes. What was different about Snow Leopard than today is that it received a full 2 years of nothing but bug fixes. The Snow Leopard people remember fondly was 10.6.8 v1.1 not 10.6.0, which was much buggier than its predecessor 10.5.8.
The current yearly major OS update schedule is death for quality, because there's never enough time to fix the bugs. The engineers always have to turn around and start working on the next big thing, never fix the current big then. There's no solution except more time between major updates.
The other difference between now and the past is that now Apple is immediately pushing everyone to update, whereas new major Mac OS X versions used to be paid rather than free, so there was a lot more lag, you had to go to the store and purchase new discs in order to upgrade, and a lot more users were sticking with the older versions.