I've come to the conclusion that nostalgia is almost never about the objective quality of something. It's about the associations we make between a certain time in our lives and the media/technology that surrounded us at the time. It's also filtered through selective memory, emphasizing the positive while ignoring the negative.
We're all afraid of dying and we all wish we were 25 years younger. That's how I translate nostalgia when I read it. By any objective metric, the world is better than it's ever been, technology is better than it's ever been, and it's all continuing to get better.