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Ignoring the lack of updates if the game is buggy, games back then were also more focused on quality and make gamers replay the game with unlockable features based on skills, not money. I can't count the number of times I played Metal Gear Solid games over and over to unlock new features playing the hardest difficulty and with handicap features, and also to find Easter eggs. Speaking of Easter eggs, you'd lose a number of hours exploring every nook and cranny finding them!
This is restricted to a small part of modern gaming, though. In indie games, for example, you find none of these exploitative practices (talking in general, of course) and get wonderful, masterfully crafted works of art by people who do game development out of passion (also speaking in general, of course).
Yeah, no, maybe the fact that you had to immediately jump to indie games should have been a hint that it's not a small part.