I think that the trouble is that games with intriguing play options that allow for multiple solutions to problems and make each solution feel different have been done to death and designers think we are ready for something new
Older games were improved by the inability of the designers to get sidetracked by the unimportant aspects of the game. In the absence of really good graphics, they had to make the games fun. Some modern game designers realize that a game should first be fun, then be eye-candy. Crimson Skies was loosely based on the boardgame (with possible RPG add-on) of the same name. It seems to be a 3D arcade shooter designed to accompany an interesting radio play that would make a good Republic serial.
Star Trek: StarFleet Command is based on a popular wargame (Star Fleet Battles) and gets the computer to handle all of the fiddly details that make SFB a mindnumbing bore to the non-afficianado, so that anyone can find it fun.
Stronghold seems to have squarely started with fun, and then added nice graphics.
Flat Out starts with racing cars on roads, and then improved it by modelling collission damage. The added feature of launching a ragdoll when the vehicle sustains a big enough hit to kill the driver (who obviously will never learn to buckle up) manages to add to the fun.
Modern games do not have to suck, they just need the right priorities.