Final Fantasy 9 was the very first image I posted bro. And is largely a pre-rendered game.
Otherwise yes, there is plenty merit to "ugly" 90s 3D technology:
-First and foremost, costs little time and money to produce by comparison to everything that came after! This allows the primary focus to be on gameplay, story, sound etc unlike today where art/graphics is the source of all decline.
-It goes back to the usual imagination vs clear image argument. It was a nice middle ground between providing realistic/believable 3D environments, while still requiring the brain to fill in the blanks. The result was often better than the bland clear image of the painting of a toilet they call modern games, or 2000s era games especially.
-The technological limitations of the PS1 created an almost normal mapping & detail 'materials' texture-like effect with its textures by default, which in the next generation in its absence + higher resolutions everything looked sterile and flat. Speaking purely visually now, I prefer 90s era 3D or modern-era 3D to 2000s era 3D (e.g PS2). Everything looked bland and sterile as shit. A clear image of mediocrity was attained. Exceptions apply but they're pretty rare. Not a fan of the visuals of most 2000s era shit.
-Limited Draw distance, too hardcore 4 u (the casuals of the codex). Creates increased navigational challenge, can't see distant obstacles, inflates sense of scale, increases the tension and atmosphere. Games like Tomb Raider, Ultima Underworld, Morrowind and Silent Hill would not at all be the same without.
-Far more diversity to visual styles. For example pre-rendering. 2D pixel art. 3D. not all devs were ready or wanted to move to full 3D just yet. 2D games still had moderate presence (and would sometimes hybridize with 3D elements too, for yet more diversity of styles. For example the spinning coffin in SotN), as opposed to 2D games only existing in the realm of the indie as today.
-With pre-rendering, true beauty could still be attained regardless as my screenshots demonstrate. These games still look better than modern super expensive 3D, to me. These games however are not true 3D and limit the kind of gameplay styles possible (because of fixed camera perspective).
If I could reset the industry's technology to those times I would in a heartbeat. Then the gameplay, the stories, the SOUL could come back.