PC gaming went through a similar phase in the late 90's and early 2000's, especially as broadband became more and more prevalent. Developers were being rushed by publishers to release unfinished games: games both incomplete in content, and worse, games that had runtime bugs. It got to the point where sales so were bad at release because people were sick of playing half the game only to find out either the last half was nearly unplayable because of bugs or the patch overhauled so much content they'd have to start over to get the experience and regardless, patching the game invalidated the old saves, anyway. Now, it's swung back in favor of developers with some studios becoming so large, they can buy their publishers outright i.e. Blizzard Activision. The new saying pioneered in the mid 2000's when press asked the release date on anticipated titles was "When it's finished."
Anyway, I'd expect consoles to go through a similar maturation process given that internet only really became prevalent on 7th gen cnosoles and only really in the latter half of their lifespan.
Nintendo always has the best innovations, let's see if they can reinvent the console again.