"Officially" sounds weird. Nobody decides that, only you yourself. I think it is opposite, yes we are overburdened with unbelievable amount of crap especially from high-profile, most looked at publishers/studios. So what? They were going to suck anyway since it is just mainstream and in it for the money. Same applies to music.
Then you stop complaining and see that it is actually the best time ever. Many great games - Factorio, Kingdom Come, nuHitman, Breath of the Wild, Escape from Tarkov. You can also finally play games that stood the test of time - whether console or PC. And many times enhanced with mods or graphical patches. What more do you want?
Yes, PS3/360 era definitely went to some decline it still gave us the most varied games - Blur (which is pretty good with 4 play split-screen and a good setup), Demon's Souls, NeverDead, Alone in the Dark, Stuntman Ignition, Gran Turismo 5, Katamari games.
Many games/communities have just matured. Arma 3 is now extremely loaded with content and features (Arma is so influential and inspiring, it gave us DayZ, original Battle Royale mod, etc.). Many great games have now revived MP thanks to fans - so it stays forever, because devs cannot shut it down. BeamNG will soon be the most realistic vehicle simulation ever. Monomyth looks better and better.
"Thanks" to covid many people have time to play or work on their mods/projects.
I myself have been travelling a lot and thanks to my Vita I have been exposed to many classics I would just not want to play on my PC, even its own exclusives are amazing like Soul Sacrifice Delta, Freedom Wars and TearAway.
TLDR: You are looking at it wrong, gaming is better than ever. Apply your filters (a.k.a. ask codex).